New Kids On Cancels 3.5% of Outstanding Shares to Boost Shareholder Value
New Kids On's board resolved on June 30, 2026 to cancel 286,516 treasury shares held.
This represents approximately 3.5% of total outstanding shares of 8,185,121, with the cancellation scheduled for July 8, 2026.
The purpose is shareholder return and value enhancement; the capital stock remains unchanged. The book value of cancelled shares is about 1.55 billion KRW while market value is around 0.95 billion KRW.
[AI Summary]The cancellation of 3.5% of outstanding shares is a strong positive signal for shareholders, boosting EPS and ownership stakes without any capital reduction. The move enhances shareholder value and is likely to support the stock price in the near term.