[Edaily Reporter Kwon Oh Seok ] SJG SEJONG CO.,LTD.(033530)’s stock price is showing strength in early trading. Buying interest appears to be surging following news that the company will cancel all of its treasury shares to enhance shareholder value. According to MP Doctor on the 1st, SJG SEJONG CO.,LTD. is trading at 6,350 won as of 9:17 a.m., up 5.83% from the previous trading day. Earlier today, the company issued a press release announcing that it will cancel all 768,662 of its treasury shares on the 15th. Based on the closing price of 6,000 won on June 30, this amounts to approximately 4.6 billion won. The company explained that this decision is a measure to enhance corporate value and shareholder value in line with the value-up trend in the KOSDAQ market. As a result of this cancellation, the total number of issued shares will decrease from 27,820,961 to 27,052,299. Consequently, an increase in per-share value is expected due to the reduction in the number of shares in circulation. Since the cancellation is being carried out through the cancellation of treasury stock, there will be no change in the company’s capital.
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