Mirae Asset Securities Decides on KRW 502.4 Billion Treasury Share Cancellation, Marking Largest Ever
Mirae Asset Securities has decided to cancel more than 500 billion won worth of treasury shares in what marks the largest such buyback in its history, aiming to enhance shareholder value.
On July 23, Mirae Asset Securities held a board meeting and announced it had resolved to cancel a total of 502.4 billion won worth of its own shares. This amount represents the largest share cancellation conducted by the company to date.
The shares slated for cancellation are those previously acquired by the company: 16.55 million common shares (357.4 billion won), 620,000 type-1 preferred shares (10 billion won), and 9.23 million type-2 preferred shares (135 billion won). The cancellation date is scheduled for July 31.
This treasury share cancellation will be carried out using treasury shares acquired with distributable profits, and will not result in a reduction of the company’s capital stock.
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A Mirae Asset Securities representative stated, "This treasury share cancellation reflects our determination to do our utmost to protect shareholder interests," and added, "We will continue to pursue consistent and committed shareholder return policies to achieve growth together with our shareholders."
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