Rehabilitation Plan Approved – Massive Dilution via Debt-to-Equity and Rights Offering
- Seoul Rehabilitation Court approved the rehabilitation plan on May 12, 2026
- Collateral claims (KDB): 12.53% debt-to-equity swap, 87.47% cash repayment; other banks (KEB, KAMCO) 100% cash repayment
- General unsecured claims: 67.65% debt-to-equity swap, 32.35% cash repayment; post-petition interest fully waived
- Rights offering: 60 million common shares to BuKwang Pharm at par value (KRW 500 per share)
- Stock consolidation: 3 existing shares → 1 share; conversion shares not consolidated (1:1)
- Existing shareholders face severe dilution; new shares to be listed after proceedings end
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KOSDAQ Filing Information
- Filing: Approval of Rehabilitation Plan
- Company: UNION KOREA PHARM (080720)
- Submission: UNION KOREA PHARM CO.,Ltd
- Receipt: 05-13-2026
- Under KRX KOSDAQ Market Division