[Special Stock] CNTOOS Seongjin Hits Upper Limit Due to Rights Issue Ex-Rights Effect

[Asia Economy Reporter Ji Yeon-jin] C&T Seongjin soared to the upper limit price on the 9th due to the ex-rights effect of the free capital increase.

On that day, C&T Seongjin surged 29.91% (2,970 won) compared to the previous day within 6 minutes of the opening of the KOSDAQ market and was trading at 12,900 won.

The company announced the day before that an ex-rights date would occur due to the free capital increase. The reference price is 9,930 won per common share. The ex-rights date means the loss of rights to new shares, and the opening price on the first trading day after the ex-rights date is artificially adjusted. When the ex-rights date occurs, liquidity tends to flow in due to the effect of the stock price appearing relatively cheaper.

Earlier, on the 25th of last month, the company also recorded the upper limit price by announcing the sale of treasury shares and a free capital increase to stabilize the stock price and enhance shareholder value.