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Korean listed companies give away bonus shares as they celebrate best stock year

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  • 기사입력:2020.12.17 12:56:41
  • 최종수정:2020.12.17 12:56:41
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South Korean listed companies enjoying best-ever rally this year are giving away bonus issues to celebrate their boon with shareholders. A total of 19 companies trading on the main Kospi and junior Kosdaq issued bonus shares from Dec. 1 to 16, according to local financial data tracker FnGuide on Thursday. The number is likely to reach 30 by the month’s end. Issuers of bonus giveaway totaled 12 in the final month of 2019 and 15 in 2018.

A bonus issue is an alternative to cash dividend in shareholder reward. Because it does not involve cash flow, bonus issues can increase a company’s capital without affecting net assets and thus help improve financial soundness.

It can also be a way to increase shareholder value, said Jeong Myoung-ji, a Samsung Securities analyst.

Of the 19 firms that disclosed bonus stock plans this month, nearly half or nine firms were first issuers.

The extra shares were handed out by companies who have enjoyed spectacular price gains this year.

Shares of MEK-ICS Co., a Kosdaq-listed mechanical ventilator maker, zoomed to 39,800 ($36.40) on Wednesday from 3,885 won on Dec. 30, 2019. The company disclosed earlier this month that it will give one free share per one share to existing shareholders after issuing new shares.

Shares of OKins Electronics Co. rose nearly seven-fold to 23,000 won over the same period.

Those of Vaxcell Bio Therapeutics that joined the junior bourse in September this year gained more than five-fold to 156,500 won from the IPO price of 30,000 won.

Novatech Co. and JoyCity Corp. also have seen their stock price more than tripled.

The reward scheme cheered investors. Shares of Vaxcell Bio Therapeutics gained more than 20 percent and JoyCity 23 percent.


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