Shares of Hanssem are experiencing a significant rise following the announcement of a 50 billion won stock buyback.
As of 9:39 a.m. on June 10, the Korea Exchange reported that Hanssem's stock price had increased by 2,000 won (6.69%) to 31,900 won. At one point, the stock surged by as much as 12.37%.
The increase in stock price is attributed to Hanssem's disclosure of a medium- to long-term shareholder return policy that includes the stock buyback.
The company announced the decision to enter into a trust agreement for the acquisition of its own shares worth 50 billion won. The purpose of the buyback is to stabilize the stock price and enhance shareholder value.
Through this trust agreement, approximately 1,751,313 common shares are expected to be acquired. Prior to the agreement, Hanssem held 6,933,606 treasury shares, which accounted for 29.46% of its total issued shares.
In addition, Hanssem unveiled a medium- to long-term shareholder return policy that aims to maintain an annual return rate of over 50% for the next three years. The company plans to combine cash dividends with stock buybacks as a new metric to enhance shareholder value.
The record date for the second-quarter cash dividend is set for June 30. The amount of the dividend per share and the payment schedule will be determined later, taking into account comprehensive financial conditions such as cash assets, liquidity, debt repayment, investment plans, retained earnings, and legal restrictions.
* This article has been translated by AI.
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