Hantap's shares have surged for three consecutive trading days, driven by the announcement of a significant buyback plan by its largest shareholder.
According to the Korea Exchange, as of 2:19 PM on August 13, Hantap's stock was trading at 3,280 won, up 485 won (17.35%) from the previous trading day. The stock had previously hit its upper limit for two consecutive days on August 11 and 12.
On August 11, Hantap disclosed that its largest shareholder plans to buy back 2 million common shares to enhance shareholder and corporate value. The buyback period is set from September 11 to October 10, lasting 30 days, with an estimated purchase amount of about 3.3 billion won.
The planned buyback represents approximately 9% of Hantap's total issued shares. The actual number of shares purchased and the transaction price may vary depending on future stock price fluctuations.
The announcement of the share buyback has heightened expectations for improved shareholder value and responsible management. Hantap's stock price nearly doubled from 1,654 won on August 10, the day before the announcement, to 3,280 won.
Hantap has recorded operating profit for four consecutive years from 2022 to 2025 through business structure improvements and cost reductions. Last year, the company also turned its net profit into the black.
The company is exploring ways to utilize its assets, including cash reserves, investment properties, and its headquarters site.
A Hantap representative stated, "We believe the recent stock price has fallen excessively compared to the company's intrinsic value, prompting the largest shareholder to submit a buyback plan to enhance shareholder and corporate value. We are also considering additional measures to increase shareholder and corporate value, which will be disclosed once finalized."
* This article has been translated by AI.
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