LG Uplus cancels 80 billion won in treasury shares to speed value-up plan

LG Uplus canceled all of its roughly 5.4 million treasury shares purchased last year.

LG Uplus disclosed on the 30th that it will cancel about 80 billion won worth of treasury shares based on book value on the 15th of next month. The shares to be canceled amount to 1.26% of total shares outstanding.

LG Uplus also canceled about 6.78 million treasury shares worth about 100 billion won based on book value on Aug. 5 last year.

The company said it is part of a "value-up plan" to boost shareholder value and corporate value. LG Uplus announced a "value-up plan," a corporate value enhancement plan that includes shareholder return measures for 2024.