[Edaily Reporter Park Jung-Soo ] #WING YIP FOOD HOLDINGS GROUP announced on the 30th that it is proceeding with a third-party private placement totaling 22.4 billion won, with participation from its largest shareholder, and plans to cultivate its high-protein health snacks and weight management food businesses as new growth engines.
In this capital increase, the largest shareholder, WANG TINGFENG, will be allocated 7 million shares—half of the total issued volume—and will invest 11.2 billion won. The remaining 7 million shares will be acquired by WONG SIO CHAN and RUI XING INTERNATIONAL HOLDINGS LIMITED, with each acquiring 3.5 million shares.
The company plans to issue 14 million common shares at 1,600 won per share, which represents an 11.1% premium over the reference share price. It plans to submit the capital increase proposal at an extraordinary general meeting of shareholders on August 10, proceed with the approval process, and then collect the subscription payments. The new shares will be subject to a one-year lock-up period following issuance.
The company will invest the funds raised through the capital increase into expanding its health-oriented food business. Of this amount, 13.44 billion won will be used to build production facilities, purchase raw materials, and fund research and development (R&D), with the aim of establishing a foundation for the development and production of high-protein, low-sodium health snacks and weight-management foods made with meat. The remaining 8.96 billion won will be used for brand building, marketing, and expanding distribution channels.
The company’s strategy is to develop products that consider not only protein content and nutritional design but also taste, texture, portability, and ease of storage, thereby expanding its product lineup to include pre- and post-workout meals, high-protein snacks, and meal replacements. Through this, the company plans to upgrade its existing meat-processing-centered business into a health-oriented, high-value-added food business and broaden its consumer base.
The company is also paying close attention to the growth of China’s health food market. As interest in health management and weight control increases, the markets for sports nutrition and weight management foods are expanding rapidly, and the company anticipates that the growth of online distribution channels will further drive this market expansion.
WANG TINGFENG, the largest shareholder, stated, “My participation in this rights offering is not merely financial support but a decision that demonstrates my confidence in the company’s new growth strategy and long-term growth potential,” adding, “Building on the competitiveness of our existing pork processing business, we will actively target the high-protein health snack and weight management food markets.”
He added, “We will spare no effort to enhance shareholder value by not only successfully advancing these new business initiatives but also maintaining a stable listing through this rights offering.”