Jeju Air secures KRW 206.6 billion in operating capital through capital increase

Final subscription rate 664.1%, AK Holdings and Jeju Island participated
Resolving management uncertainty and securing stable working capital

Jeju Air secured about 206.6 billion won in capital through capital increase / Jeju Air

Jeju Air has successfully completed a rights offering by securing approximately KRW 206.6 billion. By securing operating funds, it plans to solidify its position as a leading post-coronavirus airline.

Jeju Air announced on the 25th that the final subscription rate was 664.1% as a result of the previous subscription for shareholders on the 18th and 19th and the general public subscription on the 21st and 22nd. AK Holdings, the largest shareholder of Jeju Air, has fully digested the allocated amount (88.4 billion won), and Jeju Special Self-Governing Province also participated in the capital increase with 4 billion won for two consecutive years. In the general public offering, it recorded a high competition ratio of 97.17:1. Jeju Air said, “Through this capital increase, we plan to prepare to further solidify our position as a leading airline in the post-corona era by preemptively resolving management uncertainty and securing stable operating funds.”

Meanwhile, Jeju Air’s paid-in capital increase schedule is October 29th on the payment date and November 12th on the expected listing date.

Reporter Eunji Lee [email protected]

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