EcoPro Bm shares fly on seemingly depreciated price upon ex-rights and increases in issues

2022.06.27 13:49:02 | 2022.06.27 14:45:52

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South Korea’s lithium-ion battery maker EcoPro BM shares surged Monday as they look cheaper after rights to bonus issue have expired.

By 1:30 p.m. Monday, the Kosdaq No. 6 stock was trading 9.5 percent higher at 136,600 won after going as high as 156,600 won.

The Korea Exchange on Sunday disclosed that the rights to bonus share offering would expire on Monday. The increases in outstanding shares can dilute the stock price and make it look cheaper. The stock price on Friday closed at 496,400 won.

The company in April announced to bolster equity capital by 500 billion won to finance its oversea foray. It also offered to issue three bonus shares per one to new owners of the rights offering.

By Pulse

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]

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