Mirae Asset Daewoo Decides to Buy Back 15 Million Shares... Third Time This Year

Following the purchase of 29 million shares by the end of July, an additional purchase decision made... Cumulative 44 million shares expected
Reflecting management's commitment to continuously do their best to protect shareholder rights

[Asia Economy Reporter Song Hwajeong] Mirae Asset Daewoo announced on the 30th that it has decided to additionally repurchase its own shares worth approximately 113.4 billion KRW.

The shares to be acquired this time are 15 million common shares, which correspond to about 2.8% of the outstanding shares. The company plans to complete the purchase on the stock market within three months from the 31st to October 30th.

This additional share repurchase decision by Mirae Asset Daewoo is the third this year, having repurchased 13 million shares in March and 16 million shares in June. The total shares repurchased by Mirae Asset Daewoo this year amount to about 44 million shares, corresponding to approximately 8.3% of the outstanding shares.

Jeon Gyeongnam, CEO of the Management Innovation Division at Mirae Asset Daewoo, said, “Considering a balanced profit structure and differentiated financial stability, the current stock price level is judged to be undervalued. Reflecting the management’s commitment to prioritizing shareholder value, we decided on the third share repurchase,” and added, “We will continue to actively carry out various shareholder rights protection activities, including share repurchases.”

This content was produced with the assistance of AI translation services.