[Asia Economy Reporter Yoo Hyun-seok] Classys announced on the 17th that the number of shares held by related parties decreased by 7,095,776 shares through off-hours block trades.
The trading counterparties are domestic and overseas institutional investors with a high understanding of the company's business items and future growth potential. The company expects that the increased circulating shares will help stabilize trading. Currently, Classys has 64,716,864 issued shares. The number of freely tradable shares excluding the largest shareholder and related parties is about 25%.
A company official stated, "There is no change in the stake of CEO Jeong Seong-jae, the largest shareholder, and we are focusing on the company's core business such as the global trend expansion of Shurink and new product launches. There are no additional block deal plans from the largest shareholder and related parties, and the shareholding ratio remains high at the 70% level." He added, "This block deal issue is unrelated to the company's fundamentals, and we will continue to strive to communicate and promote corporate value in the future."
Meanwhile, Classys is a company that develops, manufactures, and sells aesthetic medical devices, and has popularized the domestic beauty market through its flagship product Shurink. Recently, it has been gaining attention in overseas markets such as Brazil, with export amounts rapidly increasing.
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