Cheongho Comnet Suspends Trading Due to 10% Capital Reduction... Decision on Free Capital Reduction
[Asia Economy Reporter Eunmo Koo] Cheongho Comnet announced on the 15th through a public disclosure that trading on the KOSPI market has been suspended due to a capital reduction exceeding 10%. Additionally, it announced the decision to carry out a free capital reduction to improve the financial structure, including covering accumulated losses. The capital reduction will be conducted by consolidating 10 shares of common stock with a face value of 5,000 KRW into 1 share. After the capital reduction, the number of shares will decrease from 8,576,351 to 857,635, and the capital will be reduced from approximately 42.8 billion KRW to 4.2 billion KRW. The record date for the capital reduction is August 3.
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