Jeju Air raises $176.6 mn through rights offering for operating capital

[Photo by Jeju Air Co.]

South Korea’s largest budget carrier Jeju Air Co. raised 206.6 billion won ($176.6 million) after selling new issues with 88.4 billion won worth subscribed by its largest shareholder AK Holdings Inc. and 4 billion won worth by No. 3 shareholder Jeju Special Self-Governing Province. The new issues will be listed on Nov. 12, and the proceeds will be used to normalize its operation from the Covid-19 woes.

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