Nuin Tek Completes 65.48% Dilutive Rights Offering at 800 Won Raising 5.92 Billion Won, Confirming Shareholder Value Dilution and Fund Usage
Nuin Tek submitted the Securities Issuance Report on June 30, 2026, completing the rights offering followed by a general public offering.
The company raised a total of 5.92 billion won by issuing 7,400,000 shares at 800 won per share, representing a 65.48% increase over the existing 11,300,312 shares.
Major shareholder Jang Ki-soo increased his stake from 14.09% to 18.94% after the offering, while subscription by existing shareholders and oversubscription partially occurred, but a large number of unsubscribed shares were allocated to the public offering.
The proceeds will be used for early redemption of the 16th convertible bond 1.8 billion won, facility investment in eco-friendly automotive capacitor production lines 4.0 billion won, and working capital for raw material purchases 0.12 billion won.
The new shares are scheduled to be listed on July 10, 2026, and the massive dilution is expected to negatively impact existing shareholder value.
[AI Summary]Nuin Tek's 65.48% dilutive rights offering has been finalized, significantly impairing existing shareholder value. The offering price of 800 won is a 30.7% discount to the current price of 1,154 won, and the large volume of new shares is expected to exert downward pressure on the stock price. While the funds are used for debt repayment and facility investment, the risk of continued operating losses persists.