After completing a reverse stock split and resuming trading, KR Motors(000040) is down more than 14% in early trading.
As of 9:20 a.m. on the 28th, KR Motors was trading at 1,140 won, down 195 won (14.61%) from the previous session. Its market capitalization is about 19.6 billion won.
KR Motors decided on an inverse 5-for-1 stock split on the 11th to maintain an appropriate number of freely tradable shares. Trading was halted from the 3rd through the previous day, and it resumed today.
The company said the reverse split is a consolidation that adjusts only the number of shares, not a capital reduction that accompanies a decrease in paid-in capital, so there is no change in corporate value.
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