Daehan Electric Wire & Cable, Common Stock Par Value 5-to-1 Free Capital Reduction Decision
[Asia Economy Reporter Lee Gwan-ju] Korea Electric Wire has announced on the 10th that it has decided to execute a free capital reduction, reducing the par value of common shares from 500 won to 100 won.
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The shares subject to reduction are 856,473,009 common shares, and the capital after the reduction will be 85,647,309,000 won. The record date for the reduction is January 25 of next year. The company stated that the reason for the reduction is "improvement of financial structure."
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