LG Uplus will cancel all of about 5.4 million treasury shares it bought last year, accelerating its “value-up plan” to boost shareholder value.
LG Uplus disclosed on April 30 that it will cancel treasury shares with a book value of about 80 billion won on May 15. The move cancels all of the roughly 5.4 million shares it has been buying since last year, equal to 1.26 percent of shares outstanding. LG Uplus also cancelled about 6.78 million treasury shares worth about 100 billion won at book value on Aug. 5 last year.
The successive treasury share cancellations are part of LG Uplus' value-up plan to enhance corporate value. LG Uplus previously disclosed the plan in November 2024, including medium- to long-term financial targets, ways to achieve them and a shareholder return plan.
Jin-ho Lee
jhlee26@d-today.co.kr