[Special Stock] Notus Reevaluated with Capital Surplus 38 Times Its Capital... Largest Ever Bonus Issue

[Asia Economy Reporter Hyungsoo Park] Notus is soaring. The news of the largest-ever free share issuance appears to have influenced the stock price.

As of 12:18 PM on the 9th, Notus is trading at 47,300 KRW, up 20.36% from the previous trading day.

Notus, a non-clinical CRO (Contract Research Organization) company recently acquired by HLB, announced that it will carry out a large-scale free share issuance to enhance shareholder value and strengthen trading liquidity.

Notus will conduct the largest-ever free share issuance, allocating 8 new shares for every existing share. The record date for shareholders eligible for the new shares (ex-rights date) is the 31st of this month, and the new shares are scheduled to be listed on June 22. The funds for the free share issuance will be sourced from the company’s capital surplus.

A Notus official stated, “As of the first quarter of this year, we hold a capital surplus of 30.3 billion KRW, which is more than 38 times the capital stock, making a large-scale free share issuance possible.”

Founded in 2012, Notus conducts over 1,000 non-clinical test evaluations annually on various diseases such as cancer, vascular diseases, and adult diseases for about 300 major domestic pharmaceutical and bio companies.

Last year, Notus established its subsidiary Onhill and entered the sales business of animal pharmaceuticals, medical devices, and feed, focusing on the pet healthcare business. The domestic pet market is a sector growing rapidly at an annual rate of over 50%. Notus plans to develop a variety of product lines such as pharmaceuticals and health supplements for pets by leveraging its non-clinical experience and network.

An HLB Group official said, “Although Notus has secured future value, the limited number of circulating shares at around 7 million restricted trading liquidity, making it difficult for institutional investors to easily include it in their purchase lists.” He added, “We expect trading liquidity to expand significantly through the free share issuance, which will ultimately lead to a revaluation of corporate value and shareholder benefits.”

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