Mirae Asset Daewoo Decides to Buy Back 100 Billion KRW Worth of Treasury Shares
Following the purchase of 50 million shares last year, the first treasury stock buyback this year
Reflecting the group's commitment to doing its best to protect shareholder rights
[Asia Economy Reporter Song Hwajeong] Mirae Asset Daewoo announced on the 28th that it has decided to purchase additional treasury shares worth approximately 100 billion KRW.
The shares to be acquired this time are 10.5 million common shares, which correspond to about 2.1% of the outstanding shares. Mirae Asset Daewoo plans to complete the purchase on the stock market within three months from March 29 to April 28.
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A Mirae Asset Daewoo official stated, "Following the acquisition of approximately 372.7 billion KRW (50 million shares) of treasury shares in four rounds last year and the cancellation of 13 million shares, we have decided to acquire treasury shares again this year to enhance shareholder value," adding, "We expect this will secure downside rigidity for the stock price."
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