Welcron to Buy Back 2.5 Billion KRW Worth of Treasury Shares... "Enhancing Shareholder Value"

Welcron announced on the 23rd that it has decided to repurchase its own shares worth 2.5 billion KRW to enhance shareholder value. Photo by Welcron

[Asia Economy Reporter Kim Heeyoon] Welcron announced on the 23rd that it has decided to repurchase its own shares worth 2.5 billion KRW to enhance shareholder value.

According to Welcron, this share repurchase will be conducted over three months from today until June 22. Based on the closing price of 4,920 KRW on the 22nd, the volume amounts to 500,000 shares. This corresponds to a stake of 1.77%.

Welcron's decision to repurchase shares is interpreted as a response to the recent stock price not reflecting the strong performance achieved last year. Last year, Welcron recorded its highest-ever figures with separate basis sales increasing by 20.8% year-on-year to 123.7 billion KRW, and operating profit rising by 156.8% to 17.7 billion KRW.

In particular, last year, through the expansion of MB filter facilities for masks, which saw a surge in demand due to COVID-19, Welcron showed more than double sales growth in the MB filter sector compared to the previous year. Additionally, increased production volume through the relocation and expansion of the composite materials center in the defense sector contributed to the strong performance.

A Welcron representative stated, “Despite achieving record-high performance last year, we judged that the recent stock price was undervalued, so we decided to repurchase shares to enhance corporate value and stabilize the stock price.”

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