Kumho Petrochemical to Cancel Half of Its Treasury Shares Worth 380 Billion KRW

by Park Soyeon

Published 06 Mar.2024 16:15(KST)

Kumho Petrochemical announced on the 6th that it will burn half of its treasury shares over the next three years.

Kumho Petrochemical stated that it plans to cancel 50% of its existing treasury shares in installments over three years to enhance shareholder value.

A total of 2,624,417 shares (9.2%) are subject to cancellation. Based on the closing price on the 6th, this amounts to approximately 379 billion KRW.