[Featured Stock] Fila Holdings Rises on News of 70 Billion KRW Share Buyback

Fila Holdings is showing strong performance in early trading. The news of a share buyback worth approximately 70 billion won is believed to have driven the stock price up.

As of 9:33 AM on the 17th, Fila Holdings is trading at 38,450 won, up 8.77% (3,100 won) compared to the previous close.

The boost in investor sentiment is attributed to the share buyback announcement. Previously, on the 14th, Fila Holdings disclosed that it decided to acquire treasury shares worth about 70 billion won to stabilize the stock price and enhance shareholder value.

The expected holding period for the treasury shares is over six months. Last year, Fila Holdings' provisional sales revenue grew 6.5% year-on-year to 4.2688 trillion won, and operating profit increased by 21.3% to 368.1 billion won.