APR Decides to Acquire Treasury Shares Worth 60 Billion KRW... "Maximizing Shareholder Value"

Following Executive Share Buybacks in May, the Company Also Acquires Treasury Shares

Beauty tech company APR has decided to acquire treasury shares worth 60 billion KRW to enhance shareholder value.

APR announced on the 24th that it has decided to repurchase treasury shares worth 60 billion KRW. APR will acquire treasury shares through a trust contract for treasury stock acquisition, with NH Investment & Securities as the contracting institution. NH Investment & Securities will acquire APR’s treasury shares until December 23, 2024, and all shares acquired through this trust contract will be canceled.

APR logo. [Image provided by APR]

This is APR’s second treasury share repurchase this year, following the management’s purchase of treasury shares in May. It is the company’s first repurchase since its listing on the KOSPI market in February this year.

Previously, in May, CEO Kim Byung-hoon personally acquired treasury shares worth approximately 3.2 billion KRW, along with a total of three executives who executed treasury share purchases.

Corporate treasury share repurchases are regarded as shareholder-friendly policies because the reduction in the number of shares circulating in the market increases the value of shares held by shareholders. APR explained that the background of this treasury share acquisition includes the promotion of shareholder-friendly policies as well as confidence in current performance and future growth drivers.

An APR representative stated, "The company has high confidence in long-term growth, considering innovative beauty devices, new products to be launched, and expansion of influence in the global market," adding, "Like global big tech companies, we will continue to steadily pursue related policies to enhance shareholder value."