Abko to Buy Back 3 Billion Won of Treasury Shares to Enhance Shareholder Value... Expecting a Rebound This Year

Abko will acquire treasury shares to enhance corporate and shareholder value.

On the 1st, Abko held a board meeting and announced that it will acquire treasury shares worth 3 billion KRW. The acquisition period will be about six months, from that day until October 1, and the shares will be acquired through a trust contract for treasury stock acquisition with KB Securities.

This treasury share acquisition was made as part of a shareholder-friendly policy and based on the judgment that the corporate value is undervalued compared to the growth trend in performance. The company explained that with the easing of interest rates, PC rooms nationwide are reopening, which is expected to benefit Abko, the No. 1 gaming gear company in Korea.

An Abko official said, “The gaming gear division is expected to see an increase in operating profit due to sales focused on high value-added products and efforts to reduce costs,” adding, “Overseas exports, which had slowed after the pandemic, are also entering a full-scale phase.”

The expansion of sales of the charging storage cabinet ‘PadBank,’ which ranks first among domestic suppliers to education offices, is also expected to lead to strong performance. PadBank is also exploring sales channels by interacting with several countries for export.

A company official emphasized, “This year is the first year of achieving both external growth and profitability improvement and making a leap forward,” adding, “Following last year, we plan to continue efforts and actively implement shareholder-friendly policies to grow domestic and international sales.”