 |
(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] Mirae Asset Securities to Acquire and Retire 10 Million Shares, Increasing Treasury Stock Ratio to 24.5%
Mirae Asset Securities is set to undertake its second share buyback and retirement since February. While the February buyback involved retiring existing shares, this time the company plans to acquire new shares before retiring them. Despite the buyback, the ratio of treasury stock to total outstanding shares has actually increased.
According to the Financial Supervisory Service's electronic disclosure system on July 7, Mirae Asset Securities plans to acquire 10 million common shares from August 8 to November 7. This represents approximately 2.2% of the shares in circulation.
After completing the acquisition of new treasury shares, the company plans to retire them. Mirae Asset Securities had previously retired 10 million existing shares in February. With this new acquisition and retirement, the ratio of treasury stock to total outstanding shares has slightly increased from 24.1% at the end of last year to 24.5%.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
