[E-Daily Reporter Park Jung-Soo ] Ascendio(012170)announced on the 7th that it has decided to conduct a third-party private placement through a capital increase via in-kind contribution targeting KYUNG NAM PHARM.CO.,LTD.(053950).

This capital increase will be carried out by KYUNG NAM PHARM.CO.,LTD. contributing real estate located in Sindang-dong, Seoul, valued at approximately 13.1 billion won, as an in-kind contribution, and Ascendio issuing 16,233,418 common shares at 807 won per share in return. Upon completion of the new share issuance, Ascendio’s total number of issued shares will increase from the current 20,250,194 shares to 36,483,612 shares.
Through this transaction, the company plans to secure a stable asset base and strengthen its financial structure, thereby laying the groundwork for medium- to long-term business stability and growth. It also expects that the capital increase via in-kind contribution will alleviate concerns regarding designation as a “monitored stock” based on market capitalization, while helping to strengthen the foundation for maintaining its listing and enhance investor confidence.
Ascendio explained that it had comprehensively reviewed the appropriateness of the value of the real estate subject to the in-kind contribution, the transparency of the transaction structure, and the legality of the procedures. The transaction is scheduled to proceed following the inspection procedures for in-kind contributions under the Commercial Act, including the appointment of a court-appointed inspector or an appraisal by a certified appraiser.
A company official stated, “Through this transaction, we have secured stable assets,” adding, “We will do our utmost to alleviate concerns regarding market capitalization, enhance shareholder value, and lay the foundation for sustainable growth.”