Hyundai BioLand Decides on 100% Free Capital Increase

Hyundai BioLand is conducting a bonus issue to enhance shareholder value.

Hyundai BioLand, a comprehensive healthcare company affiliated with Hyundai Department Store Group, announced on the 2nd that it has decided on a 100% bonus issue, allocating one new share for every one share held. Through this bonus issue, 15 million new shares will be issued, increasing the total number of issued shares to 30 million. The record date for the new shares allocation is the 20th of this month.

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A bonus issue involves issuing new shares from the company's capital surplus and distributing them free of charge to existing shareholders. Typically, a bonus issue increases the number of shares in circulation, leading to more active trading and acting as a positive factor for the stock price. Unlike a paid-in capital increase, existing shareholders can increase their number of shares without any cost, making it a representative shareholder-friendly policy.

A Hyundai BioLand official explained, "We decided on the bonus issue to enhance shareholder value through increased trading activity resulting from the expanded number of shares in circulation," adding, "The funds required for the bonus issue will be sourced from the company's capital surplus." He further stated, "We plan to continue establishing various shareholder-friendly policies through ongoing communication with shareholders."

Meanwhile, Hyundai BioLand announced that it achieved sales of 30 billion KRW and an operating profit of 4 billion KRW in the first quarter of this year. These figures represent increases of 14.5% in sales and 14.3% in operating profit compared to the same period last year.

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