Obigo, Largest Shareholder Purchases Shares Worth 1.5 Billion Won on Market: "Enhancing Shareholder Value"

The largest shareholder of Obigo has begun purchasing shares worth approximately 1.5 billion won on the market to enhance shareholder value.

According to Obigo on June 11, the largest shareholder recently purchased about 260,000 shares of the company on the market in accordance with a pre-disclosed trading plan over the past month. The average purchase price was 5,574 won per share, bringing the total purchase to around 1.5 billion won. This share acquisition was carried out transparently in line with the intent of the pre-disclosed trading plan system, and the largest shareholder's stake increased slightly from 20.58% to 22.67%.

The company explained that the buyback was conducted because the recent share price was considered excessively undervalued relative to the company's intrinsic value and long-term growth potential. This share repurchase is expected to both demonstrate the company’s commitment to enhancing shareholder value and serve as an opportunity to reduce market uncertainty.

Currently, Obigo is developing its platform business based on three main pillars: AI content centered on the 'Pick Series,' AI car care in conjunction with its subsidiary Carang, and physical AI solutions expanding into other industries such as energy and robotics. In particular, the AI content business is expected to see strong growth momentum as structural demand for in-vehicle content expands in line with the growth of the autonomous driving and robotaxi industries. Obigo is establishing a stable platform revenue structure through expanding Pick Series supply to global automakers, generating subscription and advertising revenue. In addition, the AI car care business led by subsidiary Carang is beginning to generate visible sales, laying the foundation for performance growth.

Obigo is now accelerating the expansion of its core growth engine, the physical AI solutions sector, with 15 billion won in funding recently secured from Kiwoom Private Equity and Korea Investment Partners. The company plans to focus these resources on advancing its proven mobility platform technology and adapting it to different industries such as energy and robotics, thereby driving medium- to long-term growth.

An Obigo representative stated, "The largest shareholder’s share buyback is a demonstration of trust in the company’s intrinsic value and a commitment to enhancing shareholder value. As the growth trajectory of our key platform businesses is clear, we will prove our exceptional growth potential through tangible results and maximize corporate value."

This content was produced with the assistance of AI translation services.