KPF Completes 1.1% Treasury Stock Acquisition, Boosting Shareholder Value and Price Support
KPF completed the acquisition of 221,130 treasury shares representing about 1.1% of total outstanding shares through Mirae Asset Securities, with total acquisition cost of approximately 998.88 million KRW excluding fees.
The buyback was executed within the planned 1 billion KRW limit, and due to the stock price decline, the company acquired more shares than initially planned, demonstrating commitment to shareholder returns.
The largest shareholder Songhyun Holdings maintained its stake of 7,129,504 shares unchanged, indicating no change in control.
[AI Summary]KPF's 1.1% treasury share buyback at an average price of 4,517 KRW reduces float and supports the stock price, reflecting proactive shareholder value management.