[Market Highlight] Com2uS Surges Over 8% on News of 58.2 Billion Won Treasury Share Cancellation

On January 6, shares of Com2uS, a KOSDAQ-listed company, surged by more than 8% in early trading. The boost in investor sentiment is attributed to the company's decision to cancel treasury shares worth 58.2 billion won.

As of 9:08 a.m. on this day, Com2uS shares were trading at 31,800 won, up 8.16% from the previous trading day. The stock opened at 31,900 won and climbed as high as 32,000 won during intraday trading.

The announcement of the treasury share cancellation appears to be driving the stock price higher. After the market closed the previous day, Com2uS disclosed that it had decided to cancel treasury shares to enhance shareholder value. The number of shares to be cancelled totals 646,442, which accounts for 5.1% of the total issued shares. These shares are treasury shares previously acquired by the company, and 50% of the company’s total treasury shares will be cancelled.

The scheduled date for the treasury share cancellation is January 12, and the cancellation amount, based on the average acquisition price, is approximately 58.15 billion won. While the number of issued shares will decrease as a result of this cancellation, the company’s capital will remain unchanged. After the cancellation is completed, the total number of issued shares will be adjusted to 12,091,313.

A Com2uS representative stated, "We will continue to do our utmost for long-term corporate growth to enhance shareholder value, and will thoroughly discuss and implement a variety of shareholder return policies."