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[Alpha Biz=(Chicago) Reporter Paul Lee] Kolmar Holdings Korea announced on the 22nd that it will purchase treasury stocks worth KRW 20 billion. The purpose is to increase corporate value and maximize shareholder profits.
Kolmar Holdings Korea said it will hold a board meeting on the same day and sign a trust contract for its own shares.
The acquisition is worth 20 billion won, or about 8 percent of the market capitalization, and the contract period is six months from the 7th of next month.
The contracting agency is Shinhan Investment & Securities.
The purchase of treasury stocks was decided as part of the "three-year (2023-2025) shareholder return policy to enhance shareholder value" established in July.
Kolmar Holdings Korea has announced that it will implement ▲free capital increase ▲ cash dividend ▲ treasury stock acquisition and incineration for three years as a way to increase shareholder value.
To that end, the company carried out a 100% free capital increase in October, allocating one new share per common stock. In January and October this year, the company completed the incineration of 191,132 shares, or 1% of its own shares and issuance shares, which amounted to 53.7 billion won.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
