In early trading on the 8th, BEAUTYSKIN hit the upper price limit on the ex-rights date effect from a bonus issue.
As of 9:50 a.m. that day on the KOSDAQ market, BEAUTYSKIN was trading at 6,850 won, up 1,580 won (29.98%) from the previous trading day. Following the day before, it also hit the upper price limit that day.
When corporations conduct a bonus issue, the market capitalization remains unchanged while only the number of shares increases. Accordingly, on the ex-rights date when the right to be allocated new shares expires, the share price is theoretically adjusted. In this process, an optical illusion can occur that makes the price appear lower, which can in turn draw in short-term buying.
Previously, BEAUTYSKIN carried out a bonus issue allocating three shares for each common share last month. Reflecting this, the share price, which was 16,210 won on the 6th, was adjusted to 4,055 won the previous day (the 7th). The record date for new share allocation is on the 8th, and the scheduled listing date is on the 30th of this month.