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[Alpha Biz=(Chicago) Reporter Kim Jisun] Naver announced on the 31st that it will retire 1,644,491 shares of its own shares on the 7th of next month. This is equivalent to 1% of Naver's total issued shares (164,049,085 shares).
The Stock Retirement cost is 305.29537 billion won. The amount is the amount multiplied by the number of treasury stocks subject to incineration by the closing price of 186,100 won on the 30th, the day before the board resolution.
Naver has announced plans to lower its share ratio, which is currently 8%, to within 5% by 2025. The announcement of the 1% Stock Retirement on this day is the first step.
Choi "We can take a different view on holding many of our own shares because the high share ratio could raise questions about the potential use of them," CEO Choi said at the time. "We plan to incinerate a total of 3 percent of its shares by about 1 percent per year over the next three years to resolve current or future misunderstandings."
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
