FutureStream Networks, FSN Name Change + Stock Consolidation... "Year of Rebound, Will Enhance Corporate Value"

[Asia Economy Reporter Jang Hyowon] Future Stream Networks (hereinafter FSN), a comprehensive digital marketing specialist company, is undertaking a major corporate image renewal.

FSN announced that at the extraordinary general meeting of shareholders held on the 28th, all major agenda items including ▲ Future Stream Networks → FSN name change ▲ par value consolidation from 100 KRW to 500 KRW were approved. FSN plans to proceed with the KOSDAQ name change listing next month, and due to the stock consolidation, the number of listed shares will be reduced from the existing 130,568,553 shares to 26,113,710 shares, a scale of 1/5.

The company stated that with the change of the largest shareholder this year and balanced growth across all business areas marking a turning point, it intends to erase the previously poor image and embark on a new leap forward. Additionally, through the stock consolidation, it plans to enhance corporate value and shareholder value.

The company said, “Following the recent separation of affiliates, we have established a responsible management system centered on FSN’s management team and are concretizing and executing various measures to become the most growth-oriented and trusted company. This name change and stock consolidation serve as a stepping stone for corporate image renewal and shareholder value enhancement, and ultimately, it will be an opportunity for FSN to be fully re-evaluated and prove its value through its business capabilities.”

FSN achieved its best performance since its founding with consolidated sales of 100.9 billion KRW and operating profit of 6.1 billion KRW in the first half of this year, recording growth rates of 43% and 703% respectively compared to the same period last year. The company said that with the steady growth of its core business in ad tech-based digital marketing and the brand & commerce new business sectors joining the performance ranks, it aims for a continuous record-breaking rally in the second half.

Meanwhile, the record date for new stock allocation ahead of the stock consolidation is October 13, and the listing date of the new shares is November 8. Odd-lot shares generated during the consolidation process will be calculated at the closing price on the first day of the new stock listing and paid in cash.

This content was produced with the assistance of AI translation services.