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(Photo = Yonhap news) |
[Alpha Biz=(Chicago) Reporter Paul Lee] Meritz Financial Group announced the purchase of treasury stocks worth KRW 500 billion on the 22nd. Daishin Securities raised its target price for Meritz Financial Group to 120,000 won from 93,000 won on the 25th, saying it was more shocking than expected. The investment opinion maintained 'Buy (Buy)'.
"We announced the signing of a treasury stock acquisition trust contract worth 500 billion won on the 22nd," Daishin Securities said. "The period is from the date of disclosure to March 21, 2025, and additional treasury stock purchases cannot be made during the trust period, but additional purchases can be made once the treasury stock purchase is completed."
Daishin Securities went on to say, "As Meritz Financial Group usually tends to complete the purchase of treasury shares within four to six months after the disclosure, the disclosure is understood to have announced its treasury stock policy during the first half of the year."
"The number of shares expected to be purchased as of the closing price on the 22nd is 5.9 million shares, or 3.1 percent of the total distribution shares. As of the end of December last year, the total number of distribution shares was 189.9 million shares, but the number of shares, excluding a 48.06 percent stake in major shareholders, is 92 million shares, or 6.4 percent in terms of the number of real distribution shares," Daishin Securities said.
Alphabiz Reporter Kim SangJin(hoondork1977@alphabiz.co.kr)
