Unicem Completes 15 Billion KRW Treasury Stock Buyback... "Continued Efforts to Enhance Shareholder Value"

Leather specialist company Unichem has demonstrated a strong commitment to enhancing shareholder value by completing a large-scale share repurchase.

Unichem announced on the 28th that it has completed the acquisition of treasury shares worth approximately 15 billion KRW. The shares acquired amount to about 7.1 million, representing 7.3% of the total issued shares.

At the end of December last year, the company disclosed that it had decided to acquire treasury shares to stabilize the stock price and enhance shareholder value. Moving forward, it plans to implement various shareholder return policies based on stable performance growth.

A company representative stated, “The completion of this 15 billion KRW treasury share repurchase expresses strong confidence in enhancing shareholder value and company growth,” adding, “We will continue to pursue shareholder-friendly policies while maximizing corporate value through strengthening core business competitiveness and securing growth engines.”

Meanwhile, Unichem started anew under the leadership of professional CEO Jeong Jae-hyung after replacing management with the support of minority shareholders at an extraordinary general meeting in November last year. Alongside this, the company has been focusing on improving financial structure and business competitiveness by bringing industry experts into management. Notably, through the sale of its subsidiary Unione in December last year, it achieved a remarkable improvement in its debt ratio from over 200% to the 50% range.

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