[Featured Stock] Namyang Dairy Products, '20 Billion Won Share Buyback', Up 5.08%

The stock price of Namyang Dairy Products, which decided to repurchase its own shares worth 20 billion won to enhance responsible management and shareholder value, is showing strength.

As of 9:18 a.m. on the 25th, Namyang Dairy Products is trading at 558,000 won, up 27,000 won (5.08%) from the previous trading day.

On the previous day, Namyang Dairy Products announced that the board of directors decided to enter into a trust contract for the acquisition of treasury stocks worth 20 billion won. They signed a contract with NH Investment & Securities and plan to acquire treasury stocks by December 24. The purpose of the contract is to stabilize the stock price and enhance shareholder value.

Earlier, the private equity fund (PEF) operator Hahn & Company (Hahn & Co) took over management rights after a management dispute with former chairman Hong Won-sik and the owner family, following a Supreme Court ruling in January.

A Namyang Dairy Products official said, "Despite the difficult market environment, including the management dispute lawsuit and intensified competition in the dairy industry, we are steadily working to improve corporate value by reducing losses through improved business strategies," adding, "This treasury stock repurchase reflects our commitment to responsible management and enhancing shareholder value as management normalization becomes visible following the recent change in management rights."