[Market Highlight] Onconic Therapeutics Surges Over 20% on Stock Dividend Announcement

Onconic Therapeutics surged by over 20% on September 17 following news of a stock dividend.

As of 2:49 p.m. that day, shares of Onconic Therapeutics were trading at 45,650 won on the KOSDAQ market, up 23.05% from the previous trading day. The stock opened at 37,200 won and soared during the session, reaching as high as 47,550 won at one point.

Earlier that morning, Onconic Therapeutics announced that it had decided to carry out a stock dividend, granting three new shares for every one common share held. This is the company's first stock dividend since its listing, and the company stated that the move is aimed at enhancing shareholder value. The record date for the new shares is October 13, and the new shares are scheduled to be listed on November 3.

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