[DISCLOSURE] Suncore (051170), an auto parts manufacturer, said on Oct. 20 that it has decided on a capital increase of 15 billion won (US$13.3 million) through third-party allotment. 

A total of 2,901,350 shares will be issued and 2,127,660 shares will be offered to Prince Khaled bin Alwaleed bin Talal of Saudi Arabia.

The Saudi entrepreneur will be Suncore’s largest shareholder following the deal.

By Jung Min-kyung (mkj1105@heraldcorp.com)