Woongjin ThinkBig Decides to Buy 10 Billion Won Worth of Treasury Shares "Enhancing Shareholder Value"
"A Decision to Demonstrate Mid- to Long-Term Growth Potential"
Woongjin ThinkBig will purchase 10 billion won worth of its own shares.
On July 4, Woongjin ThinkBig announced that its board of directors, which convened the previous day, had decided to acquire 5,470,459 treasury shares worth 10 billion won in order to enhance shareholder value and strengthen market confidence.
The expected acquisition period is approximately two months, from today until September 3. The company will purchase common shares on the open market without a trust agreement with a securities firm.
Upon completion of the acquisition, the number of treasury shares held by Woongjin ThinkBig will increase from 2,822,896 shares to 8,293,355 shares, and its ownership ratio will rise from 2.44% to 7.18%.
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A Woongjin ThinkBig representative stated, "Despite the recent industry downturn, this decision reflects our commitment as a responsible company to strengthen the trust of shareholders and the market." The representative added, "It is a decision aimed at demonstrating the company's mid- to long-term growth potential and corporate value."
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