Shares of mobile game developer DoubleU Games are rising in early trading on the 9th. This is due to news that the company will buy back 35 billion won of its own shares.
As of 9:31 a.m. on this day, DoubleU Games shares are trading at 60,000 won, up 4.71% (2,700 won) compared to the previous trading day in the KOSPI market.
Earlier, DoubleU Games disclosed that it would acquire 35 billion won of its own shares through a trust contract on this day. This acquisition is a measure to stabilize the stock price and enhance shareholder value. The contract period is from this day until Jan. 9 of next year and will be conducted through on-market purchases. The executing institution for the contract is Hanwha Investment & Securities.
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