[Public Notice+] LegoChem Bio, Decides on Free Stock Issuance... "Expecting Shareholder Value Enhancement Due to Increased Trading Volume"
[Asia Economy Reporter Hyunseok Yoo] LegoChem Biosciences announced on the 1st that it has decided to carry out a stock dividend of 100%, allocating 1 common share and 1 convertible preferred share per share.
The record date for the new shares is set for the 17th, and the scheduled listing date is the 7th of next month. The number of newly issued shares through this stock dividend will be 10,770,101 common shares and 1,283,070 convertible preferred shares, and the total number of issued shares after the increase is expected to rise to 24,106,342 shares.
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A representative of LegoChem Bio said, “Due to the low number of circulating shares, despite the favorable news of consecutive technology transfers, there has been an aspect of undervaluation, which led to the decision to carry out the stock dividend.” He added, “Starting with this stock dividend, we will communicate more actively with the market in the future and strive to become a more shareholder-friendly company.”
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