Paper Korea Decides 3-for-1 Free Capital Reduction... "Improving Financial Structure"

[Asia Economy Reporter Won Dara] Paper Korea announced on the 7th that it has decided to execute a reverse stock split, consolidating 3 common shares into 1 share. The company explained the reason for the capital reduction as "improving the financial structure through deficit compensation."

As a result of this reverse stock split, the capital stock will decrease from 45 billion KRW to 15 billion KRW, and the number of issued shares will be reduced from 89.92 million shares to 29.97 million shares. The record date for the capital reduction is March 5, and the new shares are scheduled to be listed on March 17.

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