Woori Financial Group. (photo = Yonhap news)

 

[Alpha Biz=(Chicago) Reporter Kim Jisun] Woori Financial Group announced on the 13th that it will purchase all of its remaining 9,357,960 shares (about 1.24% stake) held by the Korea Deposit Insurance Corporation as treasury shares. It is about 140 billion won.

The treasury stock purchase was made after the approval of the Public Fund Management Committee and the Woori Finance Board of Directors as an implementation procedure under the "Basic Agreement on Stock Transfer" signed by Woori Finance and the Korea Deposit Insurance Corporation on October 5 last year.

Based on the closing price of the day, this transaction will be carried out after the end of the stock market on the next day (14th). Woori Finance will immediately retire all of its acquired treasury stocks.

The purchase and retirement of treasury stocks of Woori Financial Group is about 40% larger than last year's 100 billion won.

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