Seohan suspends share trading amid stock consolidation; resumption set for Sept. 1

Trading in shares of Seohan Co. has been temporarily suspended since Wednesday amid a stock consolidation process. The company said the halt is not the result of any management or operational issue but is a routine procedural step required to update and cancel electronic registration records as part of the share merger.

According to Seohan on Monday, the company held an extraordinary shareholders' meeting on July 29 and approved a 5-to-1 stock consolidation — raising the par value of each common share from 500 won to 2,500 won — to stabilize its share price and enhance corporate value.

As a result, the total number of issued shares will be reduced from 100.89 million to 20.178 million. The company said in a disclosure that the consolidation is a par-value merger that preserves overall corporate value.

The process requires updating the electronic registration information of existing shares and converting them into new shares, temporarily restricting trading during that period.

The trading suspension is scheduled to last through Aug. 31, with the new shares set to be listed on Sept. 1.

"All procedures related to this stock consolidation are proceeding on schedule without any issues," a Seohan official said. "We plan to continue communicating relevant information to shareholders and investors in a transparent and accurate manner."