SGC Energy's (KRX:005090) subsidiary SGC AI Infrastructure will lower its capital by 96% through a paid-in capital reduction, slashing the number of common shares to 200,000 from 5 million, according to a Wednesday filing with the Korea Exchange.
The firm's capital will decline to 1 billion won from 25 billion won, with the record date set for Nov. 24, the filing said.
Shares of SGC Energy fell nearly 3% in recent trade.
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