Samsung Elec says it will cancel $4.4 billion won worth of shares
SEOUL (Reuters) - Samsung Electronics Co Ltd said on Friday it would cancel 4.9 trillion won ($4.4 billion) worth of its shares.
The stock cancellation included 450 million in common stock and 81 million in preferred stock, the company said in a filing to the stock exchange.
Samsung has said it plans to cancel its remaining treasury shares this year to enhance shareholder value.
($1 = 1,119.1800 won)
(Reporting by Ju-min Park; Editing by Stephen Coates)
Disclaimer: No Business Standard Journalist was involved in creation of this content