Hugel, 6th Treasury Stock Buyback... Signed Trust Contract Worth 50 Billion KRW

"Commitment to Responsible Management, Enhancing Corporate Value"

[Asia Economy Reporter Lee Gwanju] Hugel announced on the 8th that it has decided to repurchase its own shares and signed a trust contract worth 50 billion KRW. The contract period is from October 7, the date of the board resolution, to October 6, and the contracting institution is Samsung Securities.

This is Hugel's sixth share repurchase. Since 2018, Hugel has acquired approximately 740,000 shares worth 170 billion KRW through five rounds of on-market purchases, and has canceled 100,000 of these shares. In addition, in 2020, Hugel conducted a stock dividend using capital surplus, allocating two new shares (200%) for each common share to increase stock liquidity.

Hugel explained, "Despite being on the verge of a true leap as a global company, the stock price has fallen due to unfortunate external factors, resulting in excessive undervaluation compared to the actual corporate value," and added, "Based on confidence in long-term growth, we decided to repurchase shares to demonstrate our commitment to responsible management and to enhance corporate value."

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