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Chips&Media to Acquire KRW 3 Billion Treasury Stock

Seoul, South Korea - Apr. 24, 2024

[Digital Today AI Reporter] Chips&Media, a multi-standard video codec IP provider, announced publicly on April 24th, 2024, that it has decided to enter into a trust agreement to acquire treasury stocks.

This trust agreement has been established with the aim of enhancing shareholder value and stabilizing the company’s stock value. The contract is effective from the 25th of February to the 25th of October, with a total contract amount of 3 billion won. The acquisition of treasury shares is intended to bolster shareholder value and elevate the company’s overall value by promoting stock price stability.

Chips&Media augmented its operational funds by divesting approximately 10.29 billion won of treasury stock in August of the previous year, resulting in no remaining treasury stock before the trust agreement.

Meanwhile, on the 24th, Chips&Media published its provisional results for the first quarter of this year.

(https://www.digitaltoday.co.kr/news/articleView.html?idxno=515148)