[Edaily Reporter Kwon Oh Seok ] EagonIndustrial(008250)’s stock price is hitting the daily upper price limit in early trading. It appears that buying interest is surging following reports of a plan to repurchase and cancel shares as part of a shareholder return initiative, while simultaneously selling land assets to reinvest the proceeds into future growth businesses.

According to MP Doctor on the 25th, as of 9:21 a.m., EagonIndustrial is trading at 3,470 won—the daily price limit—up 29.96% from the previous trading day.
Previously, on the previous day, EagonIndustrial announced in a regulatory filing that it had held a board of directors meeting and resolved to enter into a trust agreement for the acquisition of treasury stock worth 1.5 billion won. The contract period is six months, running from today until February 23 of next year. MIRAE ASSET SECURITIES is the counterparty to the agreement. The company plans to cancel all of the treasury stock acquired through this trust agreement. The planned acquisition volume is 600,000 common shares.
Additionally, on the same day, the company decided to proceed with the sale of land for a logistics center located in Dohwa-dong, Michuhol-gu, Incheon. The land in question measures 15,747.6 square meters, with a book value of 27.38657 billion won as of the end of last year. This land is designated for ancillary facilities and is not the site where the company’s headquarters building is located. It is reported that EagonIndustrial plans to use the proceeds from the sale to expand into new businesses, such as eco-friendly renewable energy projects.