Studio Samick has announced plans to retire some of its own shares, and its stock price is showing an upward trend.
Studio Samick's shares traded at 9,650 won in the KOSDAQ market at 2:13 p.m. on the 2nd, up 3.65% (340 won) from the previous day. During trading, the stock price even rose to 10,890 won. This marks the first time Studio Samick's stock price has exceeded the 10,000 won mark since the end of July last year.
Studio Samick announced that it will retire 170,000 of its own shares. This amount accounts for about 4% of its total holdings, which is approximately 4.22 million shares, with a market value of about 1.6 billion won. The scheduled retirement date is the 8th. Typically, when a company retires its own shares, the number of circulating shares decreases, leading to an increase in stock price.
Studio Samick stated that it will continue its shareholder return policy. A Studio Samick official noted, "We decided to retire our own shares to reflect the government's push for mandatory retirement of treasury shares and to enhance shareholder value. In the future, we will continue our stable dividends policy and progressively retire remaining treasury shares while reinforcing shareholder returns through performance-based management."