VESSEL hit the upper limit on the first day of trading after a 5-for-1 capital reduction one month later.
VESSEL's stock was traded at 1,311 won on the Korea Securities Dealers Automated Quotations (KOSDAQ) market at 9:30 a.m. on the 22nd. It rose 29.93% (302 won) compared to the previous closing price (202 won, adjusted for the capital reduction to 1,009 won).
VESSEL earlier conducted a capital reduction involving a 5-for-1 consolidation of common stock. VESSEL noted the reason for the reduction as "to resolve capital impairment and to cover deficits." As a result of this capital reduction, VESSEL's number of issued shares decreased from 89,372,043 to 17,874,408. Capital also declined from 44.686 billion won to 8.9372 billion won.
However, VESSEL, with a market capitalization of 23.4 billion won as a micro-cap stock, has significant price volatility, which necessitates caution from investors. Additionally, on the previous day, financial authorities, the Korea Exchange, and the Korea Financial Investment Association held a joint seminar on proposed improvements to the initial public offering (IPO) and delisting system, announcing relevant proposals. The criteria for delisting on the Korea Securities Dealers Automated Quotations (KOSDAQ) market will be strengthened from the current standard of a market capitalization of less than 4 billion won to 15 billion won by 2026. The threshold will gradually increase to 30 billion won by 2029.