Anna Jiwon Park has been covering the politics at The Korea Times since the summer of 2024, when she joined the press pool for the Office of the President in Korea. Prior to that, she spent about five years reporting extensively on financial markets, regulatory authorities and the financial industry. She joined The Korea Times in 2019 after spending eight years as a broadcast journalist at Arirang TV, Korea’s leading global broadcaster, covering politics, defense and culture.
Wider Planet stock skyrockets with actor Lee Jung-jae becoming largest shareholder
Actor Lee Jung-jae poses with the award for Outstanding Lead Actor in a Drama Series for "Squid Game" during the 74th Emmy Awards at the Microsoft Theater in Los Angeles, California, on Sept. 12, 2022. AFP-Yonhap
By Anna J. Park
Actor Jung Woo-sung also joins paid-in capital increase of big data ad firm
The stock price of Wider Planet, a big data-driven targeting advertisement platform, has hit a daily upper limit of 30 percent increase for three consecutive sessions. The stock price ended at 8,150 won ($6.2), a 29.98 percent jump from the previous session.
The soaring of the stock price for the latest three sessions began last Friday, as the company publicly disclosed on Dec. 8 that actor Lee Jung-jae, globally known for his lead role in "Squid Game," will become the firm's largest shareholder on Dec. 20 through a paid-in capital increase.
Actor Jung Woo-sung, a close friend of Lee, will also become one of the key shareholders of the firm, as he joins the paid-in capital increase as well.
Actors Lee Jung-jae and Jung Woo-sung pose at a launching ceremony of a premium scotch whisky brand on Dec. 6, 2018. Newsis
"If the payment for the paid-in capital increase scheduled for Dec. 20 is completed, the firm's largest shareholder is expected to change to Lee Jung-jae," reads the public statement by Wider Planet.
With the announcement, last Friday, the big data advertisement company's stock price has been recording a daily upper limit increase on each trading session ever since. When considering the recent upward movement of the stock price, even before the public announcement of the paid-in increase, the share price has nearly tripled in just two weeks.
According to Wider Planet, it will conduct a third-party allotment paid-in capital increase amounting to 19 billion won for the purpose of securing operating funds. Approximately 5.96 million common shares will be newly issued with the paid-in capital increase at the price of 3,185 won.
With Lee making some 10 billion won worth of investment through the paid-in capital increase, he will become the largest shareholder of the firm, holding a 45 percent stake by taking over some 3.13 million shares of the newly issued stocks. Jung will hold a 9 percent stake with the purchase of 627,943 shares.