Ecopro, Business Restructuring Through Demerger

[Asia Economy Reporter Minji Lee] On the 6th, EcoPro announced that it will undergo a spin-off, dividing the company into a surviving company, EcoPro, which will be responsible for managing shares of subsidiaries and investee companies as well as investment business, and a newly established company for the environmental business sector, tentatively named EcoPro Insight. The effective date of the spin-off is May 1 of next year.

The company stated, "The surviving company after the spin-off will transition into a holding company to maximize management efficiency and transparency, and establish corporate governance for long-term growth." It added, "After the spin-off, the shares of the newly established company will undergo a re-listing review according to the Korea Exchange's KOSDAQ market listing regulations and will be re-listed on the KOSDAQ market of the Korea Exchange, while the shares of the surviving company will undergo a change in listing."

Accordingly, the KOSDAQ Market Headquarters of the Korea Exchange announced that it will suspend trading of EcoPro's shares from the start of regular market trading for 30 minutes.

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