[Stock in Focus] Airrain Surges on 20.6 Billion Won Treasury Share Cancellation, Representing 16.8% of Total Shares

Airrain shares are strong. This is believed to be influenced by the news of a large-scale cancellation of treasury shares.

As of 11:21 a.m. on December 8, Airrain is trading at 16,550 won, up 9.39% from the previous day.

On this day, Airrain announced that it will cancel approximately 20.6 billion won worth of treasury shares (a total of 1,373,250 shares) on December 12. The treasury shares to be canceled represent 16.8% of the total 8,174,789 shares issued.

This decision reflects the management's strong commitment to prioritize the use of secured funds for building long-term trust with shareholders, enhancing corporate value, and preventing dilution of share value, rather than for short-term profit. The cancellation of treasury shares is expected to have multiple positive effects, including improving share price elasticity in the market by reducing the number of shares in circulation, and strengthening institutional and market confidence through enhanced shareholder return policies.