Market Cap KRW 17.3B, Small Public Offering of KRW 990M... Risk of Stricter Delisting Requirements
- Offering overview: 909,090 common shares (face value KRW 500) at KRW 1,089 per share, raising approximately KRW 990 million. Third-party allocation to Kim Eun-jung (454,545 shares) and Choi Dong-hwan (454,545 shares).
- Proceeds used for operating funds (R&D, labor, marketing, etc.). Net proceeds after issuance costs of ~KRW 3.68 million: KRW 986.3 million.
- Market cap as of April 27, 2026: approx. KRW 17.3 billion, potentially triggering the 'market cap below KRW 20 billion for 30 consecutive days' designated issue requirement starting July 2026.
- In Feb 2026, financial authorities announced stricter delisting rules: market cap threshold of KRW 30 billion moved forward to 2027, and new 'penny stock' (below KRW 1,000) delisting criteria introduced.
- Consolidated 2025 revenue: KRW 49.7 billion (down from KRW 53.6 billion in 2024); operating profit: KRW 1.3 billion (continued turnaround); net profit: KRW 1.3 billion.
- Financial structure: Debt ratio 120.5% (vs 121.8% in 2024); current ratio plummeted to 74.09% (vs 122.1%). Total borrowings KRW 17.9 billion; cash and equivalents KRW 10.3 billion.
- Allowance for doubtful accounts surged to KRW 1.05 billion (vs KRW 0.23 billion in 2024); allowance rate on trade receivables 18.04%. Full allowance on short-term loans of KRW 9.1 billion.
- Subsidiary Songdo Any Park involved in a defect compensation lawsuit of KRW 509 million (outcome unpredictable).
- Major shareholder stake: 38.40% pre-offering → 36.09% post-offering. Treasury shares: 83,800 (0.59%).
- No dividends in the past 3 years. Credit rating: BBB- (NICE D&B).
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KOSDAQ Filing Information
- Filing: Small Public Offering Disclosure Document (Equity Securities)
- Company: U.I.DISPLAY (069330)
- Submission: U.I.DISPLAY CO.,LTD.
- Receipt: 04-28-2026
- Amended (Refer to related filing)