[Stock In Focus] Daishin Securities Jumps 13% on News of Treasury Share Cancellation

"An Active Stance on Its Value-Up Policy"

DaiShin Securities hit a new 1?year high in early trading on the 13th.

As of 9:20 a.m. on this day, DaiShin Securities was trading at 40,800 won on the Korea Exchange, up 13.02% from the previous session.

This is seen as a reaction to the news that DaiShin Securities will cancel a portion of its treasury shares. The company announced the previous day that it will cancel 15.35 million treasury shares. Starting from the effective date of the amended Commercial Act, it plans to cancel approximately 9.32 million common shares over six quarters, as well as all of its preferred shares. Of the remaining shares, about 1.5 million will be used as a pool for employee performance bonuses until 2029, and about 1.5 million will be allocated to the employee stock ownership plan until 2030.

Yoon Yudong, a researcher at NH Investment & Securities, said, "We view positively the disclosure of a disposal plan for already-held treasury shares in preparation for the enforcement of the amended Commercial Act," adding, "Even under the existing value-up policy, the company has taken an active stance by committing to a minimum dividend per share (DPS) of 1,200 won and tax-exempt dividends of up to 400 billion won."