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Jin Air to raise 109 bln won via stock sale amid pandemic

All News 17:11 August 05, 2020

SEOUL, Aug. 5 (Yonhap) -- Low-cost carrier Jin Air Co. said Wednesday it will raise 109 billion won (US$92 million) via stock sales to secure operating capital amid the new coronavirus outbreak.

Jin Air held a board meeting to issue 15 million stocks at 7,280 won per share on Sept. 16.

"The recapitalization is aimed at preparing for growing uncertainties in the airline industry," it said.

Investors are required to make payment for the new shares on Nov. 3, and the new shares will be listed on the main Korea Exchange (KRX) on Nov. 16, the statement said.

This undated file photo, provided by Jin Air, shows its B777-200ER passenger jet taking off at a local airport. (PHOTO NOT FOR SALE) (Yonhap)

kyongae.choi@yna.co.kr
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