The Korea Herald


Soribada’s subsidiary drastically reduces capital to W2b

By 윤정현

Published : Oct. 17, 2016 - 17:04

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[DISCLOSURE] Online music services provider Soribada (053110) announced on Oct. 17 that its subsidiary Will Investment has decided on a capital reduction and will retire 2.2 million common shares, so that it can collect investment. 

The stocks will be acquired at par value price of 5,000 won (US$4.39) per share. Its capital will be reduced to 400,000 shares worth 2 billion won from 13 billion won. 

The reduction will be carried out on Nov. 18. Creditors can file formal objections by Nov. 18.

By Yun Jeong-hyeon (