Ubivelox announced on the 19th that it will proceed with a bonus issue following a cash dividend.
According to the disclosure, excluding 183,269 treasury shares, new shares will be allocated at a ratio of 1 share per 1 share for 7,273,465 shares, with the record date for the new shares set for April 3.
Kang Jung-gyu, Executive Director of the Management Strategy Headquarters, stated, “Despite the increasingly competitive business environment, we made this decision to demonstrate our commitment to enhancing shareholder value through a bonus issue following the cash dividend. Starting last year, many of our businesses entered a growth phase and began generating stable profits, which gave us the opportunity to consider ways to share value with all Ubivelox shareholders.”
He also expressed, “I am pleased that this year marks the first opportunity to enhance shareholder value through both dividends and a bonus issue. Having created conditions for the company to continue growing, we will strive to consider and implement more diverse methods going forward.”
Furthermore, he conveyed confidence by saying, “We believe we can consistently show positive results through factors such as establishing a mass production system for high value-added cards like metal cards and BLE cards, preparing for commercialization of KLSC (Korea Local Smart Card), expectations for market expansion of black boxes within the EU due to legislative movements, strong demand for flagship products such as Roborock and Lifeon, and expansion of offline distribution channels.”
Meanwhile, Ubivelox is on a growth trajectory, expanding its business scope into all machinery and devices connected to the IoT (Internet of Things) through chip platform technology. Additionally, the company is preparing for the listing of its map platform affiliate, iNavi Systems, together with lead manager Kiwoom Securities.
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