Walmart Announces 3-for-1 Stock Split Decision... "To Help Employees Purchase Shares"

American retail giant Walmart is set to undergo a stock split.

According to major foreign media including The Wall Street Journal (WSJ) on the 30th (local time), Walmart announced that it has decided to split its stock at a ratio of 3-for-1 next month.

A stock split refers to subdividing existing shares regardless of the company's market capitalization. It is considered a positive factor in the market because lowering the price per share increases accessibility for individual investors. Walmart's stock price rose by as much as 2% in after-hours trading on the day, approaching the all-time high of $169.78 set last November.

According to Walmart, shareholders as of the 22nd of next month will receive the split shares after the market closes on the 23rd. Trading at the adjusted split price will begin on the 26th. With this split, Walmart's total number of shares is expected to increase from the current 2.7 billion shares to 8.1 billion shares.

Regarding the stock split decision, Walmart stated that it is part of efforts to enable its employees to purchase shares at a lower price. Walmart currently operates an employee stock purchase program that matches 15% of the purchase amount up to an annual maximum of $1,800 (approximately 2.4 million KRW) when employees buy company shares.