SD Biosensor closes 11% higher on massive tax refund notice

SD Biosensor CI

SD Biosensor Inc. soared 10.84 percent on Tuesday after the company disclosed it would receive a substantial corporate tax refund from Korea’s tax authority.

The stock finished 10.84 percent higher at 12,070 won.

The rally followed an after-hours disclosure on Monday that the company had been granted a total refund of 3.38 trillion won after filing a tax adjustment claim for the 2021–2022 fiscal years.

The company said it had overpaid taxes due to an omission in applying tax relief measures related to the relocation of one of its factories to a provincial region.

Based on its 2024 revenue of 694.6 billion won, the refund represents nearly half the company’s annual sales.

Meanwhile, shares of LS Marine Solution Co. fell on Tuesday following its announcement of a large rights offering to raise new capital.

The stock closed at 17,880 won, down 7.93 percent from the previous session.

The selloff came after the company announced a shareholder-allotted capital increase through general public offering to raise 278.3 billion won, primarily for the construction of a new cable-laying vessel (CLV).

The stock briefly fell as much as 12.15 percent earlier in the session.

LS Marine Solution plans to use the proceeds to invest in new infrastructure to support its undersea cable operations.