[Market Feature] Yuhan Corporation Surges Over 3% on Share Buyback News

Yuhan Corporation is showing strong performance on May 13. The surge in buying is attributed to news of the company’s acquisition and cancellation of its own shares.

As of 11:33 a.m. on the same day, Yuhan Corporation shares were trading at 108,300 won on the Korea Exchange, up 3.14% from the previous trading day.

Yuhan Corporation announced that it has decided to buy back its own shares worth 20 billion won in installments over the next six months in order to enhance shareholder value.

Additionally, the company stated that it will cancel common shares worth 25.3 billion won on May 23. The amount scheduled for cancellation was calculated based on the previous day’s closing price of common shares (105,000 won), and the number of common shares to be cancelled is 240,627.