Shinsegae International Announces Stock Split with Par Value Reduced to 1,000 Won

[Asia Economy Reporter Hyunseok Yoo] Shinsegae International announced on the 22nd that its board of directors resolved to split its stock par value. The split is expected to be applied from April 11th after approval at the shareholders' meeting next month.

The current common stock with a par value of 5,000 KRW will be split into 1,000 KRW shares, increasing the total number of issued shares from 7.14 million to 35.7 million.

The trading price per share will be reduced to one-fifth. Shinsegae International explained, "The par value split was decided to activate stock trading by expanding the number of circulating shares and to improve accessibility for small investors."

Earlier this month on the 8th, Shinsegae International had finalized shareholder-friendly measures, including a cash dividend of 1,500 KRW per common share and using 10% of annual operating profit as a resource for shareholder returns.

Meanwhile, Gwangju Shinsegae also announced on the same day that it decided to split the par value per share from 5,000 KRW to 1,000 KRW. After the par value split, the number of issued shares will increase from 1.6 million to 8 million.

The par value split will be applied from April 11th after the shareholders' meeting next month.

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