JB Financial chairman bolsters share value with more purchases
JB Financial Group Chairman Kim Ki-hong and seven other key members of the management team recently bought back more of the lender’s shares, aiming to reinforce shareholder value and demonstrate their strong belief in the company’s earnings trajectory, the group announced Tuesday.
Over the past month, the eight executives collectively acquired 45,708 shares, totaling approximately 590 million won ($422,000) in value.
In particular, the chairman acquired an additional 20,000 shares, bringing his total stake in the group to 140,500 shares, accounting for 0.07 percent of the group’s total stocks.
As of April, he holds the largest percentage of company shares among the chairs of the country’s seven major financial holding companies.
JB Financial Group said it shows his commitment to the group’s long-term growth as well as responsible management to raise shareholder value.
Since assuming office as the group’s chief in 2019, Kim has undertaken six rounds of company share purchases.
With the latest purchase, JB Financial Group’s management executives, who have consistently purchased company shares, now collectively hold 260,703 shares. The private acquisition of company shares by the management is widely regarded as a positive signal to the market, reflecting the strong confidence of key management members in the financial group’s enhanced performance.
“The management will continue to strengthen responsible management and strive to consistently increase shareholder value,” an official at the financial group said.