Shares of PARU closed 10.82 percent higher at 1,475 won ($1.08) on the KOSDAQ on Friday, after rising as high as 1,630 won in early trading. The gains followed a 29.98 percent surge Thursday, when the stock hit its daily upper limit on the first session after trading resumed.
According to a regulatory filing on DART, trading resumed Thursday after the company completed the listing procedures related to the consolidation.
PARU consolidated every two common shares into one, raising the face value of each share to 1,000 won from 500 won and reducing the number of issued shares to 20.90 million from 41.80 million.
The company said the move was aimed at stabilizing its share price and enhancing shareholder value. Trading had been suspended since Aug. 4 while the consolidation process was completed.
PARU, founded in 1993, develops renewable energy equipment and printed electronics technologies. Its solar business includes tracking systems that adjust the position of solar panels to follow the sun and improve power generation efficiency.
The company has spent more than three decades developing technologies in renewable energy and related fields. It has expanded its business both at home and overseas, drawing on experience in clean energy projects and advanced manufacturing technologies.
PARU said it aims to strengthen its renewable energy business while pursuing new technologies focused on cleaner energy and improved efficiency. The company has also emphasized responsible management and environmental, social and governance practices as part of its long-term growth strategy.
AJP Takeaways
• PARU closed 10.82 percent higher Friday, extending its rally to a second session after trading resumed following a share consolidation.
• The company combined every two common shares into one, halving the number of issued shares to 20.90 million while raising the face value per share to 1,000 won.
• Founded in 1993, PARU develops renewable energy and printed electronics technologies, including solar tracking systems designed to improve power generation efficiency.
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