[Asia Economy Reporter Park Jihwan] Meritz Financial Group's stock price is strong following news of a 50 billion KRW treasury stock acquisition.
At 10:18 AM on the 31st, Meritz Financial Group's stock was trading at 29,000 KRW, up 7.41% (2,000 KRW) compared to the previous trading day.
The stock price surge is attributed to Meritz Financial Group's decision to repurchase its own shares. The day before, Meritz Financial Group announced that it had signed a trust contract for the acquisition of treasury stock worth 50 billion KRW to enhance shareholder value.
The contract was signed with NH Investment & Securities. The contract period is until August 29, 2022.
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