On the 24th morning, HN shares were up in the 7% range. The rise is seen as driven by buying on news of a treasury share cancellation and new purchases.
As of 9:24 a.m. on the 24th, HN was trading at 28,100 won on the Korea Exchange, up 1,950 won (7.46%) from the previous session.
Earlier, HN disclosed on the 23rd that it will cancel treasury shares it holds worth about 22.3 billion won. The amount is 1.01 million common shares, or 3% of total shares outstanding. The planned cancellation date is on the 11th.
In addition, it said it will newly acquire 12.8 billion won worth of treasury shares for the purpose of "stabilizing the share price and enhancing shareholder value."
Meanwhile, HN said it will also absorb and merge its venture capital (VC) subsidiary NHN Investment Partners. The contract date is on the 31st of this month, and the merger date is Dec. 29.