[Featured Stock] BiozenCell Rises 15% on News of 100% Free Stock Dividend

[Asia Economy Reporter Myunghwan Lee] BiogenCell is showing strong performance in the early trading session on the 26th. This is interpreted as being influenced by the news of a 100% free stock dividend announced the previous day.

As of 9:23 AM today, BiogenCell is trading at 27,050 KRW, up 15.6% (3,650 KRW) compared to the previous trading day.

On the 25th, BiogenCell announced that it decided on a free stock dividend allocating one new share for every one common share held. The record date for the new shares is set for the 9th of next month, and the new shares are scheduled to be listed on the 30th of next month.

After the completion of the free stock dividend, the total number of issued shares of BiogenCell will increase from the existing 9,503,030 shares to 19,006,060 shares. The funds required for the free stock dividend will be sourced from the company's capital surplus (share premium).

Kim Taegyu, CEO of BiogenCell, stated, "This free stock dividend is a decision aimed at securing liquidity and enhancing shareholder value," and added, "We will strengthen communication with the market and shareholder-friendly management along with the company's future growth to become a specialized immunotherapy company capable of sustainable growth."

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