Rongtu Korea Decides to Buy Back 5 Billion KRW Worth of Treasury Shares... "Implementing Measures to Enhance Shareholder Value"

[Asia Economy Reporter Hyunseok Yoo] Mobile game publisher Longtu Korea announced on the 31st that it has decided to acquire treasury shares worth 5 billion KRW. The acquisition period is from April 1 to June 30. The planned purchase volume is about 3.6% of the total issued shares.

A company official stated, "This year, we plan to release a record six new games, and the major title ‘Bless Eternal’ is also targeted for official release in the second half of this year," adding, "With promising future performance, we decided to repurchase treasury shares to enhance shareholder value."

Longtu Korea plans to release three new mobile games in the first half and three in the second half of this year. The first new release of the year, the 2D card collection mobile game ‘Mighty Arena,’ began pre-registration on the 22nd.

The most anticipated title of the year, ‘Bless Eternal,’ is being developed with great care by Longtu Korea’s parent company, Longtu Games. As a major mobile MMORPG developed using the popular hit IP ‘Bless,’ expectations for its success are very high even before its release. A Longtu Korea official said, "We expect increased sales from expanded royalty receipts this year and improved performance in Asian and global markets," adding, "Considering the expected full-scale growth in performance, we believe this is an appropriate time to proceed with the treasury share repurchase."

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