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[Alpha Biz=(Chicago) Reporter Kim Jisun] Eugene E&T, an affiliate of Eugene Group, paid in KRW 321.9 billion and acquired 13 million shares of YTN.
Eugene E&T announced on the 13th that it has decided to increase shareholder allocation by issuing 32.19 million new shares (issued value of 10,000 won) to raise 321.9 billion won. The main purpose of issuing new shares is to acquire shares of other corporations (YTN). Eugene Corp. and Tong Yang, affiliates of Eugene Group, participated in the paid-in capital increase. Eugene Corporation invested 164.2 billion won and Dongyang invested 157.8 billion won, respectively. After the investment, Eugene Corporation's stake in Eugene E&T was 51.0% and Tong Yang's stake was 49.0%.
Eugene E&T, which raised 321.9 billion won, will use 319.9 billion won to acquire a stake in YTN. It will acquire 9 million shares owned by KEPCO KDN and 4 million shares owned by the Korea Racing Authority, and the scheduled date is the 15th of this month. Once the stock acquisition is completed, Eugene E&T's YTN stake will be 30.95%. Of the 321.9 billion won raised, the remaining 2 billion won will be used for operating funds.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
