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Namyang Dairy. Photo = Yonhap news |
[Alpha Biz= Reporter Kim Sangjin] On September 9, Namyang Dairy held a board meeting and decided to proceed with a share buyback and stock split. The moves are aimed at revitalizing stock trading and enhancing shareholder value.
Namyang Dairy announced plans to repurchase and cancel 40,269 shares, amounting to approximately 23.1 billion won. The cancellation is scheduled to take place on September 19.
Additionally, the company will split its stock, reducing the face value from 5,000 won to 500 won per share. Following the share buyback, the number of common shares will increase from the post-cancellation 67,973,1 shares to 67,973,10 shares, while preferred shares will rise from 200,000 to 2 million, representing a tenfold increase.
If the stock split proposal is approved at the shareholders' meeting scheduled for October 25, new shares will be listed on November 20.
These measures are part of Namyang Dairy’s strategy to enhance shareholder and corporate value. Previously, in June, the company announced a 20 billion won share buyback plan as part of its commitment to improving shareholder value.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
