Wise Birds Completes Termination of 2 Billion KRW Treasury Stock Trust, Acquiring 1.75 Million Shares to Enhance Shareholder Value
Wise Birds Inc. has completed the termination of a 2 billion KRW specific money trust for treasury stock with Kiwoom Securities on June 30, 2026.
Through the trust, the company acquired 1,753,740 common shares representing 3.48% of total outstanding shares, with total acquisition cost of approximately 2 billion KRW.
The acquired shares are held as treasury stock, reducing the public float and potentially supporting the stock price.
The counterparty Kiwoom Securities is a credible domestic financial institution.
[AI Summary]Wise Birds completed a 2 billion KRW share buyback, acquiring 3.48% of its outstanding shares. This treasury stock acquisition reduces float and may provide support to share price, reflecting a positive capital allocation decision for shareholder value.