Mgame Executives Buy Back Company Shares… Plan to Cancel 2 Billion Won Worth of Shares This Year
Vice President Hong Deung-ho and Director Lee Jae-chang each acquire 50 million won worth of company stock
Plans to buy back and cancel all of its own shares worth 2 billion won this year
[Edaily Reporter Ahn Yu-ri] #Mgame announced on the 12th that registered executives, including Vice President Hong Deung-ho and Director Lee Jae-chang, have each acquired 50 million won worth of company stock to strengthen responsible management and enhance shareholder value.
Mgame Reports Q1 Revenue of 24.2 Billion Won, Operating Profit of 3.2 Billion WonVice President Hong Deung-ho purchased 11,360 shares, and Director Lee Jae-chang purchased 11,225 shares, both on the open market.
Mgame emphasized that this decision reflects management’s confidence in the company’s sustainable growth potential. The company explained that it plans to actively consider additional share purchases by executives in the future, taking comprehensive market conditions into account.
Mgame has been consistently paying cash dividends since 2023 and recently announced a cash dividend of 222 won per share for the fiscal year ending 2025. Additionally, the company decided to repurchase a total of 2 billion won worth of treasury shares this year, with plans to cancel all acquired shares to enhance shareholder value.
Mgame continues to demonstrate steady growth, recording first-quarter revenue of 24.2 billion won, operating profit of 3.2 billion won, and net profit of 4.5 billion won. While overseas sales of its flagship IPs, ‘Bloodline Online’ and ‘Knight Online,’ remain stable, the company will begin expanding its lineup of new titles in earnest starting in the second half of the year.
Mgame plans to diversify its lineup by launching pre-registration for the idle mobile game “Raising Ghosts,” based on its popular IP “Ghosts,” in the third quarter of this year, followed by the relaunch of a PC MMORPG based on its legacy IP “Wind, Forest, Fire, Mountain” and the release of one additional mobile publishing title.
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