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[Alpha Biz=(Chicago) Reporter Paul Lee] Hoban Industrial, the largest shareholder of Taihan Cable & Solution, announced on the 10th that it has decided to subscribe 120% of the amount allocated to Taihan Cable & Solution paid-in capital increase.
Hoban Industrial is the largest shareholder with a 40.1% stake in Taihan Cable & Solution. A total of 30.02 million shares will be subscribed, adding the maximum subscription limit of 20% to about 25.02 million shares, or 100% of the shares allocated to the old shareholders.
The subscription amount is 254.6 billion won, or 48.4% of the total bequest fund of about 525.8 billion won, based on the planned issuance price of 8,480 won. The excess subscription is to receive additional shares if disqualified shares occur after the subscription of the old shareholder, and up to 20% of the allocated shares can be subscribed.
Taihan Cable & Solution will invest 475.8 billion won out of 528.5 billion won in the construction of the second submarine cable plant. 50 billion won will be used to secure local factories in the United States and Saudi Arabia.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
