TOVIS Securities Issuance Report Filed for Spin-off, Finalizes Separation and Relisting Schedule
TOVIS completed its spin-off on July 1, 2026, splitting into a surviving company focused on casino displays and a new company called NEOVIEW for automotive displays. This securities issuance report finalizes the share allocation at a 0.3536822 ratio and the relisting date of July 20, 2026.
NEOVIEW received preliminary approval for KOSDAQ relisting on March 12, 2026, and will be relisted on July 20, 2026. Shareholders opposing the spin-off are not granted appraisal rights due to the planned relisting.
TOVIS maintains a shareholder return policy of 30% of separate net income from 2026 to 2028, and completed the cancellation of 909,215 treasury shares in the first quarter of 2026. A 17.08% stake held by major shareholders is subject to a three-year voluntary lock-up to ensure management stability.
Pre-spin-off total assets of TOVIS were KRW 498.3 billion, with KRW 314.0 billion allocated to the surviving company and KRW 184.8 billion to NEOVIEW. NEOVIEW's debt ratio of 158.0% is higher than the surviving company's 61.2%, but its liquidity and borrowing structure remain stable.
[AI Summary]This securities issuance report is a procedural document confirming the final step of the spin-off. Investors should focus on maintained equity ratios and the growth strategies of each entity after the split. NEOVIEW's relisting offers an opportunity to reflect the value of the automotive display business in the market, while the surviving company's shareholder return policy promises consistent profit sharing. Near-term event risk is low, and mid-to-long-term business value revaluation is anticipated.