Sempio Foods Company Heads Straight to the Upper Price Limit in Early Trading After Announcing Cancellation of All Treasury Shares [Stock NOW]

[Financial News] Sempio Foods Company hit the daily upper price limit in early trading on the 10th. The move is believed to have been driven by the company’s announcement the previous day that it would cancel all of its treasury shares.
As of 9:10 a.m. that day, Sempio Foods Company was trading at 55,700 won, up 29.99% from the previous trading day. The company reached the upper price limit from the opening.
Sempio Foods Company announced the previous day that it would cancel 860,332 previously acquired treasury common shares. The shares represent approximately 29.92% of the company’s 2,875,800 currently issued shares, and the planned cancellation amount is 36.95125 billion won. The cancellation is scheduled for the 11th.
Korea Exchange (KRX) suspended trading in Sempio Foods Company’s shares from 4:17 p.m. the previous day because the cancellation involved more than 10% of the company’s shares. Trading resumed at 9 a.m. that day, after which the stock immediately hit the upper price limit.

[email protected] Lim Sang-hyeok Reporter