Corporate Logo(source: kg-mobility.com)
KG Mobility(003620) is experiencing a sharp decline of around 18% following its decision to reduce capital by 80%.
As of 10:11 AM on March 11, KG Mobility's stock was trading at 3,845 won, down 18% from the previous session. At one point, the stock had fallen by more than 18%.
KG Mobility announced the previous day that it had decided to carry out a capital reduction by decreasing the nominal value of its common shares from 5,000 won to 1,000 won in order to offset its deficit and improve its financial structure.
As a result, KG Mobility’s capital, which was approximately 982 billion won, will decrease by about 785.6 trillion won to approximately 196.4 billion won.
If this decision is approved at the shareholders' meeting on March 26, KG Mobility’s stock will be suspended from trading between April 10 and May 8. The new shares are expected to be listed on May 9.
*[KOSPI]KG Mobility(003620) is a company that manufactures and sells various automobiles and auto parts. It produces models such as Tivoli, Tivoli Air, Korando, Korando EV, Torres, Torres EVX, Rexton, Rexton Sports, and KHAN at its headquarters in the Pyeongtaek factory, located in Gyeonggi Province. The market capitalization is 925.1 billion won(as of March 10, 2025, closing price).
Corporate Logo(source: kg-mobility.com)
KG Mobility(003620) is experiencing a sharp decline of around 18% following its decision to reduce capital by 80%.
As of 10:11 AM on March 11, KG Mobility's stock was trading at 3,845 won, down 18% from the previous session. At one point, the stock had fallen by more than 18%.
KG Mobility announced the previous day that it had decided to carry out a capital reduction by decreasing the nominal value of its common shares from 5,000 won to 1,000 won in order to offset its deficit and improve its financial structure.
As a result, KG Mobility’s capital, which was approximately 982 billion won, will decrease by about 785.6 trillion won to approximately 196.4 billion won.
If this decision is approved at the shareholders' meeting on March 26, KG Mobility’s stock will be suspended from trading between April 10 and May 8. The new shares are expected to be listed on May 9.
*[KOSPI]KG Mobility(003620) is a company that manufactures and sells various automobiles and auto parts. It produces models such as Tivoli, Tivoli Air, Korando, Korando EV, Torres, Torres EVX, Rexton, Rexton Sports, and KHAN at its headquarters in the Pyeongtaek factory, located in Gyeonggi Province. The market capitalization is 925.1 billion won(as of March 10, 2025, closing price).