LG Uplus (032640.KS) will cancel all 5.4 million treasury shares it purchased last year.
The telecommunications carrier said in a regulatory filing Thursday that it plans to cancel treasury shares worth approximately 80 billion won ($55 million) based on book value on the 15th of next month. The cancellation covers about 5.4 million treasury shares the company has acquired since last year, equivalent to 1.26% of total outstanding shares.
LG Uplus previously canceled 6.78 million treasury shares worth approximately 100 billion won last year. The company described the latest decision as "a measure under its corporate value enhancement plan." LG Uplus announced its corporate value enhancement plan, known as the "Value-Up Plan," which includes shareholder return measures for 2024.
