CrystalGenomics Decides on 50% Bonus Issue to Enhance Shareholder Value
[Asia Economy Reporter Hyunseok Yoo] CrystalGenomics announced on the 15th that it has decided to carry out a 50% stock dividend as part of enhancing shareholder value and shareholder-friendly policies.
For every one common share, 0.5 new shares will be allocated free of charge. The number of shares to be issued through this stock dividend is 23,076,963 common shares. The record date for new share allocation is the 2nd of next month, and the listing date is scheduled for the 22nd of the same month. The source of funds for the stock dividend will utilize the capital surplus for capital transfer.
This stock dividend decision was made because, despite the company's growth trend and the visibility of global clinical development, the stock price has recently declined due to external factors, leading to a judgment that the company's value is relatively undervalued.
This year is planned as the inaugural year for starting clinical development in the United States with various indications based on 'Ivaltinostat,' laying the foundation for the company's growth.
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A CrystalGenomics representative said, “Starting with this stock dividend, we plan to continue shareholder-friendly policies in various forms in the future.”
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