Samyang Foods Sells Entire Treasury Stock at 3.5% Discount

(Seoul=Yonhap Infomax) Su In Jeong – Samyang Foods Co., a leading South Korean food manufacturer, has sold its entire treasury stock at a 3.5% discount.

According to a regulatory filing on the Financial Supervisory Service’s electronic disclosure system on the 24th, Samyang Foods disposed of all 74,887 treasury shares at a price of 1,326,875 won ($1,020) per share.

The disposal price per share reflects a 3.5% discount to the closing price on the previous trading day, November 19.

The shares were acquired by three overseas institutional investors: Viridian Asset Management (24,963 shares), Jump Trading (24,962 shares), and Weiss Asset Management (24,962 shares). Kwon Woo-jeong, an analyst at Kyobo Securities, noted that all three are new foreign investors with mid- to long-term investment objectives.

sijung@yna.co.kr

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