[Alpha Biz= Reporter Kim Sangjin] IS Dongseo has signed a share buyback trust agreement worth 10 billion won with KB Securities and Shinhan Investment Corp. to stabilize its stock price and improve shareholder value, the company announced on the 19th.
The contract period runs from November 19, 2024, to May 19, 2025, for a duration of six months.
The company’s management explained that it has entered into this agreement based on a high valuation of its own shares and confidence in its future growth prospects.
Earlier this year, in February, IS Dongseo’s board of directors decided to cancel all of its 705,630 treasury shares and distribute a cash dividend of 1,500 won per common share. Additionally, in April, the company’s executives, including CEO Nam Byeong-ok and five business division heads, purchased a total of 4,581 shares to demonstrate their commitment to responsible management.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
