Seers Technology said on the 10th that it decided on a free capital increase allocating two new shares for each common share. A free capital increase means distributing shares to shareholders without receiving money. From a shareholder's perspective, they can hold more shares without spending money.
The free capital increase will issue 25,373,160 new shares. The total number of issued shares will increase to 38,059,740. The new shares are scheduled to be listed on the 13th of next month.
Seers Technology is an artificial intelligence (AI) medical diagnosis corporations. Its goal is to build a healthcare ecosystem that allows patients to be managed remotely not only at hospitals but also after discharge. It is pursuing cooperation with medical institutions in overseas markets, including the Middle East.
The company said it decided on the free capital increase "to improve market liquidity and enhance shareholder value."