[Asia Economy Reporter Junho Hwang] BitsroTech announced on the 8th through its board of directors that it has decided to split the company by means of a simple physical division. After the split, the surviving company will be BitsroTech Co., Ltd., and the newly established company will be Bitsro ES Co., Ltd.


The company stated that it is splitting the power equipment (SG) business division, centered on power equipment among its business sectors, to enable swift and specialized decision-making and independent investment decisions tailored to the characteristics of each business division. Additionally, through this split, each business division will be specialized to quickly respond to market environment and regulatory changes, improve financial structure and profitability, thereby expanding corporate value through revaluation of each business division's value in the market and maximizing shareholder value.


The method of division involves splitting the power business division (such as distribution panels) to establish a newly split company, with the surviving company acquiring all issued shares of the newly established company. The existing split company remains as the surviving corporation, and the newly established company will be an unlisted corporation.


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The shareholders' meeting to decide on this split will be held on the 17th of next month.


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