Sempio's shares soared following the announcement of a stock buyback.
As of 9:10 a.m. on September 10, Sempio's stock was trading at 55,700 won, up 12,850 won (29.99%) from the previous trading day, according to the Korea Exchange.
The company disclosed the plan to retire all of its treasury shares, totaling 860,332 shares (29.9%), on September 11.
The shares to be retired represent the entirety of Sempio's current treasury stock, valued at approximately 37 billion won.
Since the implementation of mandatory stock buybacks for listed companies in March due to a revision of the Commercial Act, Sempio has been recognized as one of the companies with a significant amount of treasury stock.
* This article has been translated by AI.
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