Webzen Inc. announces an Equity Buyback for 496,000 shares.
March 24, 2020 at 04:05 am EDT
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Webzen Inc. (KOSDAQ:A069080) announces a share repurchase program. Under the program, the company will repurchase 496,000 shares. The purpose of the program is to stabilize share prices and enhance shareholder value. The repurchase program will continue until June 24, 2020. As of March 23, 2020, the company had 558,760 shares in treasury under the dividend capacity and 3,634,309 shares in treasury under other capacities.
Webzen Inc is a Korea-based company mainly engaged in the development and publishing of games. The Company operates its business through two segments. The Game Development and Service Intellectual Property License segment develops and sells mobile games such as Mu Origin 1 and Mu Origin 2 and online games such as Mu Online, R2, Shot Online, and Mu Online H5. In addition, the Segment is engaged in game intellectual property(IP) alliance business of Awakening, Spiritual Sanctuary, Archangel Earth Sword H5 and others. The Game Development and Service and Other segment develops and sells other online games and mobile games. The Company sells its products in domestic and overseas markets such as Japan and China.
WEBZEN INC. 
