Jaeyoung Solutec Launches 5-for-1 Reverse Stock Split to Improve Share Structure

Jaeyoung Solutec announced on the 26th that its board of directors had met on the 25th and resolved to conduct a 5-for-1 reverse stock split.

As a result of this decision, the par value per share will change from 500 won to 2,500 won. The total number of issued shares will be adjusted from 116,897,560 shares to 23,379,512 shares.

The company explained that it decided on this reverse split to rationally improve its capital structure by adjusting the number of issued shares, and to enhance trading stability by maintaining an appropriate number of freely tradable shares. The shareholders' meeting is scheduled for March 27, and the effective date of the new shares is April 10.

A Jaeyoung Solutec representative said, "This reverse stock split is a decision aimed at more efficiently reorganizing the share structure from a mid- to long-term perspective," adding, "We will work to establish a stable trading environment and enhance market confidence."

Meanwhile, Jaeyoung Solutec is engaged in the optical image stabilization (OIS) business for mobile phone cameras, based on its ultra-precision actuator technology. Last year, on a consolidated basis, the company posted 164.5 billion won in revenue and 10.7 billion won in operating profit. The company plans to continue pursuing its mid- to long-term growth strategy based on its stable business foundation.