HMM is showing strength in early trading on the 18th, buoyed by its plan to buy back 2.1 trillion won of its own shares.
As of 9:11 a.m. on this day, HMM is trading at 23,800 won, up 1,700 won (7.69%) from the previous transaction.
HMM announced on the 14th that it plans to acquire 2.1432 trillion won worth of its own shares and has plans to retire them. The public purchase price is 26,200 won per share, and the number of shares to be acquired is 81,801,526. HMM plans to retire all shares acquired.
The stock price is significantly rising due to the news of a large buyback of its own shares, amounting to 8% of the number of issued shares. However, compared to the previous transaction's closing price of 24,750 won at NextTrade's after-market, the increase has somewhat diminished. As HMM is a stock that attracts individual investors, it appears to be trading at a high price in the individual investor-centric NextTrade.