Korean Share Buybacks in the Time of Coronavirus

364 Views18 Mar 2020 11:20
  • There has been a surge in the number of share buybacks in Korea in the past week as a result of the significant recent decline in the stock market. In this insight, we delve into these recent share buybacks in Korea as these stocks could outperform in this difficult market environment.
  • In this report, we represent 80 companies that announced share buyback programs from March 11th to 17th. Many of these companies have experienced 40-50%+ decline in their share prices in the past two months. The number of Korean companies that have announced share buybacks in the past two weeks has been one of the highest ever in the past several years, suggesting that many Korean companies believe that their companies' share prices are undervalued.
  • Among the companies with more than 100 billion won in market cap and share buyback representing more than 4% of outstanding shares include HDC I-Controls Co Ltd (039570 KS), Daehan Steel (084010 KS), CTK Cosmetics (260930 KS), Em Tech Co Ltd (091120 KS), KOREIT, Vieworks Co Ltd (100120 KS), and Minwise.
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Douglas Kim
Korea/Asia, Events, IPOs/Douglas Research Advisory
South KoreaEquity Bottom-UpEquity Capital Markets