[Edaily Reporter Kim Hyung-il ] #MeatBox Global Inc., a direct-to-consumer platform for livestock products, has decided to conduct a stock split, issuing two new shares for every one held.

On the 2nd, MeatBox Global Inc. announced that it held a board of directors meeting and decided to issue 11,293,050 common shares through a stock split.

This stock split will be conducted by allocating two new shares for every one share held by shareholders listed on the shareholder registry as of the record date, which is the 17th of this month. The total number of issued shares prior to the stock split is 5,646,525, and the newly issued shares will be twice the size of the existing issued shares. Upon completion of the bonus issue, the total number of issued shares will increase to 16,939,575.

The new shares will be funded by the share premium of 1.1293 billion won. The new shares are scheduled to be listed on October 13, and no fractional shares will result from this bonus issue.

Earlier, trading in MeatBox Global Inc. shares was suspended for 30 minutes starting at 10:58 a.m. today due to the bonus issue. After trading resumed, the price was determined through a 10-minute single-price competitive auction, and as of 11:15 a.m., the stock was trading at 6,780 won, down 20 won from the previous trading day.

A stock split involves the company allocating new shares to shareholders free of charge using capital surplus and other funds it holds; it does not result in any new capital inflow to the company. However, as the number of shares increases significantly, the price per share may be adjusted, which could impact trading activity.