VIVIEN shares were plunging early on the 16th. Earlier, VIVIEN disclosed that it had decided on a 30-to-1 capital reduction without consideration, which appears to have spurred selling.

On the 13th in Jung District, the Woori Bank dealing room ticker displays the KOSPI close, the won/dollar exchange rate, and the KOSDAQ index. The KOSPI closes at 5,487.24, down 96.01 points (1.72%) from the previous session. The KOSDAQ index ends at 1,152.96, up 4.56 points (0.40%). In the Seoul foreign exchange market, the weekly closing exchange rate of the won against the U.S. dollar (as of 3:30 p.m.) is tallied at 1,493.7 won, up 12.5 won from the day before. /Courtesy of Yonhap News

As of 9:22 a.m. that day, VIVIEN stock was trading on the Korea Exchange at 369 won, down 25.00% (123 won) from the previous session.

On the 13th, VIVIEN disclosed that it had decided on a 30-to-1 capital reduction without consideration to improve its financial structure by covering accumulated losses. Thirty registered common shares with a par value of 500 won will be consolidated into one share with the same par value without consideration.

VIVIEN's capital will decrease from 22.58903 billion won to 749.97 million won. The number of shares outstanding will be reduced from 45,196,077 to 1,499,940.

The record date for the reduction is Apr. 15 this year, and trading will be suspended from Apr. 14 to May 5. The scheduled listing date for the new shares is May 6.

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