Fortis, Inc. announced that it will raise 5,000,000 common shares at an issue price of KRW 1,000 for the gross proceeds of KRW 5,000,000,000 on November 3, 2023. The transaction will include participation from new investor JS Marine Transportation. The transaction has been approved by the board of directors of the company.

The company will issue common shares through third party allocation capital increase. The transaction is expected to close on November 17, 2023.