Stocks in Focus

Hanssem to Buy Back 50 Billion Won Worth of Shares… Shares Rise Over 10% [Featured Stock]

[Edaily Reporter Kim Kyung-eun] #Hanssem is trading higher in early trading on the 10th after announcing mid- to long-term shareholder return policies, including quarterly dividends and share buybacks.

(Photo = Hanssem)


According to MP Doctor, as of 9:06 a.m. today, Hanssem is trading at 33,100 won, up 3,200 won (10.70%) from the previous trading day.

This is interpreted as a result of the company stimulating investor sentiment by announcing its mid- to long-term shareholder return policy the previous day.

Hanssem announced the signing of a trust agreement for the acquisition of 50 billion won worth of treasury stock, a target shareholder return rate of over 50%, and a cash dividend for the second quarter.

To enhance shareholder value, Hanssem plans to acquire a total of 50 billion won worth of new treasury shares through Shinhan Investment Securities by December. Both the existing treasury shares and the newly acquired shares will be canceled in accordance with relevant laws, including the recently revised Commercial Act and Capital Markets Act.

A Hanssem official stated, “This policy reflects our commitment to substantially enhance shareholder value by proactively purchasing additional treasury shares while the stock is undervalued,” adding, “We will continue to practice responsible management that prioritizes shareholder value and maintain ongoing communication with the market.”

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