KOSDAQ-listed processed meat producer seeks capital boost

SEOUL, August 6 (AJP) - KOSDAQ-listed processed meat producer Wing Yip Food said Thursday that its chairman and major shareholders will further increase their stakes by investing 20.8 billion won in newly issued shares to strengthen the company's capital base.

According to a disclosure filed with the Financial Supervisory Service (FSS), its chairman, Wang Xiantao, purchased 18,355 shares the previous day at an average price of 1,148 won per share, spending about 21.1 million won entirely with his own funds. The purchase increased his holdings to 2.02 million shares or a 16.08 percent stake.

Wang also reportedly plans to acquire an additional 237,533 shares next month, equivalent to about 1.89 percent of the company's outstanding shares.

In addition to his planned purchases between Sept. 7 and Oct. 6, Wang Tingfeng, the largest shareholder of the Hong Kong-based Chinese company, also plans to invest 20.8 billion won in newly issued shares.

At an extraordinary shareholders' meeting later in the day, the company is seeking approval for a 36.8 billion won fundraising plan to strengthen its capital base, meet South Korea’s stricter listing requirements and improve corporate and shareholder value.

The new shares are scheduled to be issued on Sept. 7, which the company expects will help boost its market capitalization.

Meanwhile, its shares opened 0.6 percent higher at 1,166 won and climbed as much as 2.5 percent to 1,188 won before paring gains to trade 0.9 percent lower at 1,149 won.

Listed on the junior KOSDAQ market in 2018, Wing Yip Food manufactures Chinese-style processed meat products including lap cheong, bacon and ready-to-eat sausages.

AJP Takeaways:
•   Wing Yip Food announced on Aug. 6, 2026 that chairman Wang Xiantao had increased his stake by purchasing 18,355 shares on the open market and plans to buy an additional 237,533 shares between Sept. 7 and Oct. 6, 2026.
•   Wing Yip Food's controlling shareholder, Wang Tingfeng, plans to invest 20.8 billion won by purchasing newly issued shares as part of the company's 36.8 billion won capital-raising plan.
•   The company said the combined insider investment and share issuance are intended to strengthen its capital base, comply with South Korea's tightened listing maintenance requirements, and enhance corporate and shareholder value.
•   Wing Yip Food, listed on the KOSDAQ since 2018, manufactures Chinese-style processed meat products, including lap cheong (Chinese sausage), bacon and ready-to-eat sausages.

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