SK Innovation Decides to Cancel Treasury Shares Worth 793.6 Billion KRW
SK Innovation announced on the 5th that it will cancel 4,919,974 treasury shares acquired earlier on the 20th of this month. The total amount to be canceled is 793.6 billion KRW.
The company stated, "The treasury shares acquired within the scope of distributable profits will be canceled by a resolution of the board of directors, resulting only in a reduction in the number of shares without a decrease in capital stock."
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Since the paid-in capital increase of about 1.1 trillion KRW last year, SK Innovation has been reviewing various strategic measures, including the cancellation of treasury shares, to enhance shareholder value.
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