Binggrae to Spin Off in May Next Year... "Transition to Holding Company System"

Binggrae announced on the 22nd that it has decided to split the company into Binggrae Holdings (tentative name) and Binggrae.

Binggrae Holdings will be responsible for investment business areas such as managing subsidiaries and new investments. Binggrae will become the operating company producing and selling dairy products and other food and beverages. The split ratio is 46% for Binggrae Holdings and 54% for Binggrae.

The split shareholders' meeting will be held on March 20 next year. May 1 is the split date. Binggrae Holdings will maintain its listing. Binggrae plans to be relisted on the KOSPI after undergoing a preliminary review for relisting.