Mr. Blue experienced a surge in its stock price on the first day of trading following a stock consolidation.
According to the Korea Exchange, as of 9:52 a.m. on September 2, Mr. Blue's shares were trading at 2,495 won, up 575 won (29.95%) from the previous trading day.
The trading of Mr. Blue's shares resumed today following a change in listing due to the stock consolidation. The resumption of trading after a halt has led to a surge in buying interest.
Earlier, in May, Mr. Blue's board of directors decided on a 5-for-1 stock consolidation. As a result, the par value per share increased from 100 won to 500 won, and the total number of issued shares was reduced to 16,615,956, one-fifth of the pre-consolidation amount.
The company aims to maintain an appropriate number of circulating shares and enhance the stability of stock trading while laying the groundwork for increasing its corporate value through the stock consolidation.
Stock consolidation involves combining multiple shares into one, increasing the par value and reducing the number of shares issued. While this does not change the company's actual capital or shareholder value, it is expected to alleviate the perception of being a low-priced stock and enhance trading stability.
Mr. Blue is a content company that produces and distributes webtoons and web novels. It operates its own platform to provide webtoons and web novels, along with content production and distribution services.
* This article has been translated by AI.
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