FutureChem sets terms for KRW 20B share sale on KOSDAQ
What's the deal? FutureChemDealroom has a profile for this one. Try Dealroom →, a South Korea-based chemicals and technology company listed on KOSDAQ, has finalised terms for a rights offering to raise about KRW 20 billion (roughly $14.6 million). It will issue 3,389,830 new common shares at KRW 5,910 apiece, with Korea Investment & SecuritiesDealroom has a profile for this one. Try Dealroom → underwriting any unsubscribed stock and offering it to the public.
Why now? The new shares will be issued electronically and listed on KOSDAQ later in September. FutureChem currently carries a market cap of KRW 211.1 billion.
How it's structured: The final price was set using recent volume-weighted average prices and a 25% discount, with safeguards against excessive discounting relative to market levels. Alongside the raise, FutureChem is running a bonus issue funded from share premium, granting 0.2 new shares per existing share, excluding treasury stock.
What could go wrong? The bonus issue is expected to dilute existing holdings, though the company frames it as a way to support liquidity and reward participating shareholders. TipRanks' technical sentiment signal on the stock currently reads "Sell."
The signal: Post-IPO equity raises like this let listed companies tap public markets for growth capital while keeping existing shareholders in the loop. For FutureChem, the KRW 20 billion round marks a step up from its prior fundraising, a sign of renewed appetite to fund expansion through the equity market.
Read more: blog.tipranks.com
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