View of KB Financial Group. (Photo = KB Financial Group)

 

[Alpha Biz= Reporter Kim Sangjin] On August 7, KB Financial Group announced that it will retire 9.98 million shares of its treasury stock on August 14, aiming to enhance corporate and shareholder value. This amounts to approximately 800 billion won based on the closing price as of August 6.

The shares being retired include 5.58 million shares acquired since August of last year, at a purchase price of 300 billion won, and 4.4 million shares acquired since February of this year, at a purchase price of 320 billion won.

The completion of the share cancellation process is expected to be in mid-September.

Earlier this year, KB Financial had announced a plan for buying back and canceling treasury shares worth 400 billion won as part of its first-half performance results.

 

 

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