[Edaily Reporter Kim Hyung-il ] Semiconductor back-end processing company Signetics Corp.(033170)is hitting the daily price limit on the first day of trading following a stock split.
Signetics Corp. CI. (Photo courtesy of Signetics Corp.)
According to MP Doctor on the 26th, as of 10:00 a.m., Signetics Corp. is trading at 2,210 won, up 30% (510 won) from the reference price. The stock, which showed strength from the start of the session, rose to the daily price limit.
Trading in Signetics Corp. resumed today following the relisting of shares after the stock split. Trading had previously been suspended for the relisting related to the stock split, but resumed normally today. In accordance with relevant regulations, pre-market trading is not permitted on the day trading resumes.
Signetics Corp. had previously decided to conduct a stock consolidation, merging five common shares into one. As a result, the par value per share increased from 500 won to 2,500 won, and the total number of issued shares decreased from approximately 85.73 million to 17.15 million. A stock split is a procedure that combines multiple shares into one to increase the par value per share and reduce the number of shares; the split itself does not increase the company’s capital or business value.
The company stated that the purpose of this stock split is to maintain an appropriate number of shares outstanding, stabilize the stock price, and enhance corporate value. As the price per share increases following the stock split, the trading unit will be adjusted, and the number of shares outstanding will decrease.
Signetics Corp. is a company specializing in semiconductor back-end processes, engaged in semiconductor packaging and testing. It provides back-end services that involve assembling semiconductors produced during the manufacturing process into packaged form and testing their electrical characteristics. Based on its capabilities in semiconductor packaging production and testing, the company has secured a client base of semiconductor-related companies both domestically and internationally.
As demand for high-density, high-performance products grows in the semiconductor industry, the importance of back-end technology and packaging is increasing; accordingly, Signetics Corp. is also strengthening its packaging technology and production capabilities.
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