Korea’s top tofu maker Pulmuone on Thursday denied a local report that it was preparing to unload its treasury stocks in order to secure cash.
“We’re not preparing any sale of treasury stocks. The report is groundless,” the Seoul-based firm said in a filing.
Pulmuone holds 2.23 percent of its total outstanding shares on Korea’s main stock exchange KOSPI. They were worth about 15 billion won as of the previous trading day’s close.
In 2015, the company reported a 40.6 percent drop in its consolidated operating profits to 10.8 billion won on losses from its unlisted subsidiary Pulmuone Foods.
By Lee Sun-young (milaya@heraldcorp.com)