Woongjin Thinkbig shares were strong in early trading on the 12th. The move was seen as investor sentiment being boosted after the company announced a series of shareholder return plans the previous day, including a plan to cancel treasury shares.
As of 9:23 a.m. on the 12th, Woongjin Thinkbig was trading at 1,148 won, up 111 won (10.7%) from the previous session.
The previous day, Woongjin Thinkbig said it decided to cancel 25% (1,851,814 shares) of its treasury shares and pay a cash dividend of 85 won per share. At the same time, it added that it will table an agenda item to the shareholders meeting on the 26th for the "transfer of 100 billion won from capital surplus to retained earnings" and plans to expand distributable income.
At the same time, it unveiled a plan to restructure its business around revenue. Woongjin Thinkbig plans to strengthen its core competitiveness by activating work efficiency centered on its Artificial Intelligence Transformation (AX) Lab and advancing personalized learning services.