[Market Focus] Koiz Hits New Low on News of 90% Capital Reduction for Financial Improvement

Koiz is showing weakness in early trading.

As of 9:10 a.m. on September 16, Koiz was trading at 735 won, down 12.29% (103 won) from the previous day, marking a new 52-week low.

Investor sentiment appears to have weakened after the company announced after market close the previous day that it had decided to carry out a 90% capital reduction to improve its financial structure by offsetting accumulated losses. The capital reduction will be executed by consolidating 10 common shares with a par value of 500 won each into 1 common share with the same par value, without compensation.

The record date for the capital reduction is November 18, and the new shares are scheduled to be listed on December 10.

Once the capital reduction is complete, the number of issued shares will decrease from 30,614,170 to 3,061,417, and the capital will be reduced from approximately 15.3 billion won to 1.53 billion won.

On the same day, Koiz also announced that it had decided to conduct a rights offering to raise approximately 15 billion won for operating funds and other purposes. Three million new common shares will be issued at 5,080 won per share. The record date for the allocation of new shares is November 28.

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