[E-Daily Reporter Hong Ju-yeon ] Alteogen Inc.(196170)announced on the 16th that it has tentatively suspended its plans to transfer its listing to the Main Board and will instead conduct a 30% stock split to enhance shareholder value.

Alteogen Inc. had previously received approval at an extraordinary general meeting of shareholders last December for a conditional delisting from the KOSDAQ market and a transfer to the Main Board. However, the company explained that after comprehensively reviewing changes in the capital market environment, recent policies to revitalize the KOSDAQ market being promoted by the government and the Korea Exchange, and the company’s growth strategy, it determined that remaining on the KOSDAQ market at this time is more conducive to enhancing corporate value and maximizing shareholder returns. Consequently, it has decided to temporarily postpone its application for a preliminary review of the transfer to the KOSPI market.

However, this decision does not signify a complete withdrawal of the transfer listing plan. The company stated that it will review whether and when to proceed with the transfer listing process by comprehensively considering factors such as the potential for enhancing corporate value and shareholder returns in the future, and will make a public announcement in accordance with relevant laws and regulations once specific details are finalized.

In addition, Alteogen Inc. decided to conduct a 30% stock split to expand shareholder returns and improve investment accessibility. The company will allocate 0.3 new shares for every 1 existing share of common stock and preferred stock. Trading in Alteogen Inc. shares was suspended today due to the decision to conduct the stock split. The suspension applies to Alteogen Inc. common stock and will be in effect from 3:31 p.m. that day until the market closes.