[Edaily Reporter Kim Hyung-il ] Ascon specialist SG CO., LTD.(255220)announced on the 10th that it has secured 37.4 billion won through a rights offering and will expand its domestic and international operations.

SG CO., LTD. concluded its rights offering with a subscription ratio of 441.64 to 1 during the public offering of unsubscribed shares held on the 8th and 9th. In the subscription period for existing shareholders held on the 3rd and 4th, 96.34% of the offered shares were subscribed.

A total of 41 million new shares will be issued through this rights offering. SG CO., LTD. will raise a total of 37.4 billion won; the payment date is set for the 11th, and the new shares are scheduled to be listed on the 29th.

The raised funds will be invested in expanding asphalt production bases in the Seoul metropolitan area and in local business ventures in Indonesia. They will also be used to secure raw materials and improve the company’s financial structure.

Domestically, the company plans to secure additional production hubs in the Seoul metropolitan area to broaden the regions where it can supply asphalt and expand its business territory. Overseas, it will establish a local production hub in Indonesia and pursue participation in road infrastructure projects to secure new revenue streams.

An SG CO., LTD. official stated, “With the subscription by existing shareholders followed by the completion of the public offering, the capital-raising process through the rights offering is effectively complete,” adding, “We will invest the secured funds without delay into our planned growth initiatives to strengthen the competitiveness of our domestic business and accelerate the generation of results from our overseas operations.”