NVT "Total 3.5 Billion KRW, First Ever Treasury Stock Buyback Since Establishment"

[Asia Economy Reporter Jang Hyowon] KOSDAQ-listed company NBT (CEO Park Sugeun) has decided to repurchase its own shares for the first time since its founding, aiming to increase corporate value in the mid to long term.

NBT held a board meeting and announced on the 31st that it decided to repurchase its own shares. According to this board decision, NBT plans to invest a total of 3.5 billion KRW in acquiring its own shares by December 1 of this year.

Park Sugeun, CEO of NBT, said, "NBT is preparing for a continued record-breaking performance rally and overall financial improvement in line with the scale-up strategy of the point platform business, as well as visible results from new businesses prepared since last year. We decided to repurchase our own shares to minimize the impact of the ongoing domestic and international stock market declines, which are unrelated to the intrinsic value of the company, while also considering diverse uses such as internal compensation and acquisitions."

He added, "Since we believe the current corporate value is sufficiently undervalued, we expect this share repurchase to lead to an increase in mid to long-term corporate value when the market fully reflects the value of the vision NBT is pursuing."

NBT has entered a full-scale performance turnaround since last year, continuing a record-breaking performance rally every quarter since its founding. The company explained that in the first quarter of this year, consolidated sales reached 23.1 billion KRW, a 33.4% increase compared to the same period last year, and operating profit increased by about 13.5% to 700 million KRW, demonstrating continued improvement in all financial indicators even during the industry's off-season.

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