Nexon holding company NXC to buy back 1 trillion won worth of government-inherited shares… full cancellation next month

NXC approved buying back 184,001 treasury shares held by the South Korean government at 5.558 million won each, for about 1.0227 trillion won.

The shares will be fully canceled next month, reducing the government’s stake in NXC to 25.68% after cancellation.

The deal delivers more than 1 trillion won in non-tax revenue and helps resolve a long-delayed sale of inherited shares in the private company.