[Market Focus] Aseatc Jumps 16% on News of 2.9 Billion Won Treasury Share Buyback
Aseatc is showing strong performance in early trading.
As of 9:03 a.m. on June 12, Aseatc was trading at 2,655 won, up 16.70% (380 won) from the previous day.
It is believed that investor sentiment was boosted after Aseatc announced the previous day that it would acquire treasury shares worth 2.9 billion won to enhance shareholder value and stabilize its stock price.
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The company plans to acquire 1 million shares, with IBK Investment & Securities acting as the entrusted investment broker. The acquisition will be conducted through a public tender offer, scheduled to run from today through July 3.
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