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View of Shinsegae Department Store Gangnam Branch. (Photo = Shinsegae) |
[Alpha Biz= Kim Jisun] Shinsegae announced on Wednesday that its board of directors has approved the cancellation of 200,000 shares, worth 35.4 billion KRW, as part of its ongoing efforts to enhance corporate value.
The stock buyback will take place on February 27. This move is in line with Shinsegae’s “Value Enhancement Plan,” which was previously announced in December last year. Under the plan, the company aims to cancel at least 200,000 shares annually from 2024 to 2027.
Shinsegae’s decision reflects its commitment to increasing shareholder value and reinforcing its market position.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
