Incheon Ara Energy said its affiliate and 100% shareholder, GS EPS, will participate in a 9 billion won paid-in capital increase, according to a Friday filing with the Korea Exchange.
The South Korea-based utility company said it will issue 900,000 new common shares at 10,000 won each through a shareholder allocation to GS EPS.
The proceeds will be used to fund facility investments.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.