The overall corporations IT corporation SGA's stock price recorded the upper limit on the morning of the 16th. This was the third consecutive day of hitting the upper limit following news that the largest shareholder had changed.

. /Capture from the SGA website

As of 9:47 a.m. on that day, SGA's stock in the Korea Securities Dealers Automated Quotations (KOSDAQ) market recorded an upper limit of 1,539 won, up 29.98% (355 won) compared to the previous trading day.

SGA’s stock price has recorded the upper limit for three consecutive days starting from the 14th. This is due to the news of a change in the largest shareholder and the announcement of a third-party allocation of a paid-in capital increase.

On the 14th, SGA announced that it would pursue a third-party allocation of a paid-in capital increase amounting to 34.5 billion won. A total of 58,862,249 new shares will be issued at a price of 586 won per share.

The allocation targets include Asia Strategy Partners, KC Group Inc. (KCGI), Pathfinder Holdings, and Simon Gerovich, the CEO of Metaplanet, among a total of four.

Asia Strategy Partners is expected to become SGA's largest shareholder after the capital increase. Asia Strategy Partners is the operating company of the global Web3 and blockchain-focused venture capital firm "Sora Ventures."

SGA is said to plan to use the funds raised this time for strategic asset acquisition, technology partnerships, and expanding global partnerships.

※ This article has been translated by AI. Share your feedback here.