Ecopro HN: Rights Offering of 200 Billion Won
On 4 September, Ecopro HN announced that it plans to conduct a rights offering capital raise of about 200 billion won.
The company plans to issue 5.67 million new shares and the expected rights offering price is 35,300 won (23% lower than current price).
We would not subscribe to this rights offering mainly due to lofty valuations, declining sales and profit growth, continued negative free cash flow, and concerns about excessive shares dilution.
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