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| KG케미칼 CI (사진=KG케미칼) |
[Alpha Biz=(Chicago) Reporter Kim Jisun] KG Chemical is planning to incinerate its own shares to enhance shareholder value.
KG Chemical announced on the 17th that it decided to incinerate 70,213 common shares. The value per share is 5,000 won, and the estimated incineration amount is 1,477,000,000 won. The incineration date is August 8th.
"It is to incinerate its shares acquired within the scope of dividendable profits by the resolution of the board of directors," the company said. "There is only a decrease in the number of shares and there is no decrease in capital."
KG Chemical also decided to reduce the capital by 0.74% (102,075 shares) to increase shareholder value due to the incineration of its own shares. The potato method is also the incineration of own stocks. The date of the capital reduction is August 1, and the date of listing of the new shares is August 8.
When the capital is completed, the capital will be changed from 71.6 billion won to 71.1 billion won, and the number of shares issued will be changed from 13,755,883 ordinary shares to 13,693,808 shares.
KG Chemical shares closed at 36,150 won, up 6.75% (2,350 won) from the previous day, as the decision on stock incineration and capital reduction was made public.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
