[Featured Stock] Converz Plunges Early in Trading Following Capital Reduction News

[Asia Economy Reporter Koo Eun-mo] Convues is experiencing a sharp decline in the early trading session. The news of a capital reduction decision appears to have had an impact.

As of 9:30 AM on the 16th, Convues was trading at 1,635 KRW, down 16.37% (320 KRW) compared to the previous trading day.

Convues announced through a disclosure yesterday that it will reduce capital by canceling 27,704,169 common shares on the 17th of next month to cover accumulated deficits and improve its financial structure. The capital reduction ratio is 10 to 1. After the capital reduction, Convues' shares will decrease from 30,782,409 shares to 3,078,240 shares.