Unid BTP, the No. 1 domestic company in medium-density fiberboard (MDF), is showing a rise of over 6% in the stock market on the 7th. It is observed that the stock price has bottomed out and is showing a rebound trend due to expectations of share buybacks and entry into new businesses.
As of 10:28 a.m. on the day, Unid BTP was trading at 5,390 KRW, up 6.52%. The stock price initially traded around 5,200 KRW with a slight increase at the beginning of the session, then expanded its gains during the session.
Unid BTP was re-listed on the stock market (KOSPI) in 2022 after the Unid board division was spun off. After listing, the stock price once rose to 11,910 KRW but has shown a continuous decline over the past year due to weak MDF demand. It bottomed out at 4,535 KRW in March and has recently been showing a gradual rebound trend.
The relatively large rise in the stock price on this day is interpreted as reflecting efforts to boost the stock price, such as the CEO's share buyback, and expectations for new businesses.
Unid BTP announced that CEO Han Sang-jun purchased 10,000 shares of treasury stock on the market on the 25th of last month. Earlier, on the 2nd of last month, the company also signed a trust contract to acquire treasury stock worth 2 billion KRW.
Additionally, the company has announced plans to use over 100 billion KRW in cash and cash equivalents to pursue mergers and acquisitions (M&A) for entry into new businesses.
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