Kwangdong Pharmaceutical will retire 2,621,043 common shares, it disclosed on the 23rd.
The scheduled retirement amount is 15.67384 billion won, calculated by multiplying 5,980 won, the closing price on the 23rd, by the treasury shares to be retired. The scheduled retirement date is Jan. 9 next year. After completion, the total number of issued common shares will change to 49,799,808.
The company said the decision is aimed at enhancing shareholder value and noted there will be no reduction in capital.
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