BUBANG Group Chairman Donggeon Lee to Buy KRW 800 Million in Company Shares

Stake to rise from 1.93% to 3.43% after purchase
Shares stayed below KRW 1,000 for 12 consecutive trading days recently

Donggeon Lee, chairman of BUBANG Group, plans to buy about 780 million of the company’s own shares to strengthen responsible management and enhance shareholder value.

BUBANG said on November 10 that Chairman Lee plans to acquire 805,000 common shares through open-market purchases. The planned purchase represents about 1.50% of the company’s total shares outstanding, with an expected value of KRW 779.24 million.

Once the purchases are completed, Lee’s stake will rise from 1.93% to 3.43%. The purchases are scheduled to take place from December 10 to 21.

The move is seen as an effort to support the share price after BUBANG shares fell below KRW 1,000, heightening concerns that the company could be delisted as a penny stock. BUBANG shares remained below KRW 1,000 for 12 consecutive trading days, from October 23 through November 9. After news of Lee’s share purchases broke, BUBANG shares closed at KRW 1,002 in the regular session on November 10.

In July, financial authorities implemented a rule under which KOSDAQ-listed companies whose shares remain below KRW 1,000 for 30 consecutive trading days are designated as administrative issue stocks. To avoid delisting, their share prices must then stay at or above KRW 1,000 for 45 consecutive trading days within the following 90 trading days.

Jaesoon Park, BUBANG’s vice chairman and CEO, has also steadily purchased the company’s shares. Park acquired an additional 20,000 common shares through open-market purchases in July and bought another 7,500 shares from October 30 to November 4. His holdings rose to 134,927 shares, giving him a 0.25% stake.

A BUBANG representative said, “BUBANG will continue to strengthen the foundation for sustainable corporate growth through responsible management and to work toward enhancing its corporate value over the medium to long term and increasing shareholder value.”

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