BGF Eco Materials to Acquire KRW 15 Billion in Treasury Shares, Cancel KRW 19.7 Billion Worth
BGF Eco Materials will cancel KRW 15 billion worth of treasury shares after acquiring them, along with shares it already holds.
The company disclosed that its board of directors decided on October 7 to acquire 3,896,104 common shares on the open market for approximately KRW 15 billion.
The planned acquisition period runs from October 8 to 27, and the shares will be purchased through NH Investment & Securities. The company said the purpose of the acquisition is to “enhance corporate value and protect shareholder rights and interests.”
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The company also decided to cancel the 842,699 treasury shares it already holds. The planned cancellation amount is approximately KRW 19.77125 billion, and the cancellation is scheduled for November 10. The company explained that “the cancellation of previously acquired treasury shares will not reduce capital.”
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