Samsung to Cancel $9.55 Billion in Treasury Shares
Samsung Electronics plans to cancel treasury shares worth $9.55 billion this Thursday. The move aims to boost value after shares fell 5.2 percent earlier today.
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Samsung Electronics Co., Ltd. has announced a significant plan to cancel treasury shares worth approximately 14.6 trillion won ($9.55 billion) in an effort to boost shareholder value. According to a regulatory filing on Tuesday, the cancellation is scheduled for Thursday, with the valuation based on the closing share price from Monday. On a book-value basis, the cancellation is estimated at 5.3 trillion won.
