On June 26, YM announced that it has decided to enter into a trust contract to acquire its own shares worth 5 billion KRW in order to enhance shareholder value and promote active stock trading.
The contract period will run from July 1, 2025, to June 30, 2026. The company plans to acquire 2,183,406 shares (9.8% of total shares), with the intended purchase price set at 2,290 KRW per share.
YM is a stock with a low average daily trading volume of 20,000 shares over the past year. In terms of trading value, this amounts to approximately 50 million KRW. The company explained that it decided to buy back its own shares because it believes that, due to a market capitalization lower than its corporate value and limited trading volume, the stock has been neglected in the market.
A YM representative stated, "Although the company has been growing continuously and steadily, the traditional manufacturing sector tends to be somewhat overlooked in the market, resulting in a lack of active stock trading. To address this, we have decided to repurchase our own shares. We expect that this will attract sufficient buying interest, help defend the share price, and ultimately lead to increased trading activity."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
