Korea Union Pharmaceutical has collectively changed the scheduled listing dates for new shares from a capital reduction and two rights offerings conducted under its corporate rehabilitation procedure. The delay is due to procedural issues with the Korea Securities Depository.

Capital Reduction: 3-for-1 Share Consolidation, Capital Reduced from KRW 29.7 Billion to KRW 9.9 Billion

According to the regulatory filing, the scheduled listing date for new shares related to the capital reduction decision was postponed by one week from the previous date of July 22, 2026, to July 29. The capital reduction applies to 59,573,136 common shares, with a reduction ratio of 66.67%. It consolidates both existing shares and new shares issued through debt-to-equity conversion at a ratio of 3 shares to 1. Capital will decrease from KRW 29,786,568,000 to KRW 9,927,003,000, and the number of issued shares will be reduced from 59,573,136 to 19,854,006.

Debt-to-Equity Rights Offering: 51,660,000 Shares Issued Without New Cash Payment

The scheduled listing date for the third-party allotment rights offering, aimed at converting rehabilitation claims and rehabilitation security rights into equity, was also changed to the same date. A total of 51,660,308 common shares will be issued at KRW 500 per share, with a payment date of May 19, 2026. The purpose is to settle debts through debt-to-equity conversion without any new cash injection. The top five allottees are Park Kwang-seok (9,455,845 shares), Kookmin Bank (4,042,264 shares), Korea Asset Management Corporation (2,419,598 shares), Mark 420 (2,160,064 shares), and Yeom-ho (1,394,410 shares).

Rehabilitation M&A Rights Offering: 60,000,000 Shares Allotted to Bukwang Pharmaceutical

The scheduled listing date for the third-party allotment rights offering for rehabilitation M&A was also changed to July 29, 2026. A total of 60,000,000 common shares will be issued at KRW 500 per share to raise KRW 30 billion. Bukwang Pharmaceutical will receive the entire allotment as the acquirer. The raised funds will be used to repay rehabilitation security rights and rehabilitation claims in accordance with the rehabilitation plan approved by the rehabilitation court.

The company stated, "The change in the scheduled listing date is due to a delay in practical procedures with the Korea Securities Depository," and added, "We will make an additional disclosure if further changes occur in accordance with the rehabilitation court's decision and related procedures."