[Asia Economy Reporter Hyunseok Yoo] Vespa announced on the 30th that it held a board meeting and decided to enter into a treasury stock trust agreement with Mirae Asset Daewoo to enhance shareholder value. The scale of the treasury stock trust is 7 billion KRW, which corresponds to approximately 950,000 shares based on the closing price on the 27th.
Lee Yohan, CFO of Vespa, stated, “As of the 27th, Vespa’s market capitalization was about 60 billion KRW, which is significantly undervalued compared to the net cash of 80 billion KRW including financial products. Therefore, we decided to establish a relatively large treasury stock trust to enhance shareholder value, and Vespa will continue to make its best efforts to improve shareholder value in the future.”
Meanwhile, Vespa plans to sequentially release new games in various genres starting from 2020. The company is entering its first new game cycle since listing, and Vespa explained that this treasury stock trust is part of efforts to proactively stabilize the stock price ahead of new releases to maximize the effects of the upcoming new games.
The new games planned by Vespa this year will consist of various genres such as strategic MMO, Match-3 puzzle, and defense RPG, and will be released targeting global markets including Korea, Japan, North America, and Europe.
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