Executives at Webtoon Entertainment, which listed on the Nasdaq in the US last June, are taking responsibility for responsible management by buying back shares one after another.
Webtoon Entertainment announced on the 20th (local time) that CEO Kim Jun-gu purchased 41,531 shares of Webtoon Entertainment on the market. The purchase price per share is $11.88 to $13.07, and the total purchase size is $510,000 (approximately 680 million won).
Chief Strategy Officer (CSO) Kim Yong-soo and Chief Financial Officer (CFO) David Lee also purchased Webtoon Entertainment shares worth $100,000 (approximately 130 million won) and $200,000 (approximately 260 million won) on the market, respectively, on the 15th.
Webtoon Entertainment, the headquarters of Naver Webtoon and a North American corporation, was previously listed on the US NASDAQ on June 27. Webtoon Entertainment’s stock price is $13.06 at the closing price on the 19th, below the public offering price ($21).
Naver Webtoon revealed the reason behind the management’s share purchase, saying, “The intention is to share the interests of shareholders based on our belief in the company’s long-term growth.”
Reporter Kwon Hye-mi hyeming@etnews.com
