[Asia Economy Reporter Eunmo Koo] Korea Information & Communication is showing strong performance, hitting the upper price limit early in the trading session following news of a 45 billion KRW treasury stock cancellation.
As of 9:24 AM on the 8th, Korea Information & Communication was trading at 8,980 KRW, up 29.96% (2,070 KRW) compared to the previous trading day.
On the previous day, Korea Information & Communication announced that it will cancel shares worth 44.995 billion KRW, equivalent to 15.51% of the total issued shares, through a public tender offer. The number of shares to be canceled is 5,896,362 common shares, with a par value of 500 KRW per share. The scheduled cancellation date is the 5th of next month.
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