[Alpha Biz= Reporter Kim Sangjin] ISU Petasys announced on November 11 that it will raise 5.5 trillion won through a rights offering to proactively respond to the growing demand for global artificial intelligence (AI) applications by expanding its facilities and diversifying its business portfolio through the acquisition of an advanced materials company.

The capital raise will be conducted through a shareholder allocation with any unsubscribed shares offered through a public offering. A total of 20,103,080 new shares will be issued, which represents a 31.79% increase in the company’s capital. The subscription for the new shares will take place on December 17, and the subscription period for existing shareholders will begin on February 6 of the following year and last for two days.

The general public offering will run from February 11 for two days, and the new shares are expected to be listed on February 28. The company explained that the capital raise would help reduce interest costs compared to borrowing, thereby improving profitability.

Out of the raised funds, 2.5 trillion won will be invested in the establishment of a fifth factory and expansion of the existing factories. This is in response to the rapid growth of the AI semiconductor industry and the increasing demand for Multi-Layer Boards (MLB), a type of high-layered PCB. Additionally, ISU Petasys plans to participate in JEIO’s third-party allocation capital increase and convertible bond issuance, investing approximately 997 billion won and 420 billion won, respectively, for a total of 1.417 trillion won. The company will also acquire 5.75 million shares (about 18.1% of the total shares) from the current largest shareholder, Kang Deuk-ju, for about 1.58 trillion won.

After investing about 3 trillion won, ISU Petasys will acquire a 30.1% stake in JEIO, which will become a subsidiary of the ISU Group.

 

 

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