FromBio surged to the upper limit on the first day of trading following its stock consolidation.
According to the Korea Exchange, as of 9:41 a.m. on August 10, FromBio's shares were trading at 3,330 won, up 765 won (29.82%) from the previous trading day.
In May, FromBio decided to consolidate its shares at a ratio of 5-to-1, changing the par value from 100 won to 500 won. Consequently, trading was suspended from July 20 to August 9, with trading resuming today.
The company aims to enhance its corporate value through this consolidation by restructuring its finances and securing future growth drivers. A representative from FromBio stated, "This strategic decision is aimed at improving financial soundness and ensuring long-term corporate sustainability in response to an uncertain business environment."
FromBio is also nurturing its bio business as a future growth pillar. The company’s bio research institute is currently advancing a hair loss treatment pipeline, which is in preclinical stages and has recently begun core safety evaluations.
FromBio's subsidiary, FromBio Cosmetic, is maintaining sales at the same level as the previous year while expecting to turn a monthly operating profit. The company is diversifying its distribution channels by expanding into offline stores, moving away from its previous online-centric sales structure.
A representative from FromBio expressed confidence in the simultaneous progress of three key areas: financial structure improvement, bio business growth, and subsidiary performance enhancement. They added, "In the second half of the year, we will focus on improving visible results, generating research and development outcomes, and actively engaging in investor relations to enhance shareholder value."
* This article has been translated by AI.
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