ID :
29423
Mon, 11/10/2008 - 17:27
Auther :
Shortlink :
https://www.oananews.org//node/29423
The shortlink copeid
KT&G to cancel shares worth 169 bln won
SEOUL, Nov. 10 (Yonhap) -- KT&G Corp., South Korea's largest tobacco company, said Monday that it plans to cancel 1.95 million shares worth 169 billion won(US$127 million) to boost shareholder value.
The shares were bought from Aug. 19 to Nov. 5 as part of its share buyback plans.
Shares of KT&G were trading at 86,700 won on the Seoul bourse as of 11:00 a.m.,
down 2.25 percent.
KT&G's third-quarter profit rose 15 percent on-year to 229 billion won, helped by
sales of high-margin cigarettes.
KT&G kept its full-year operating profit target at 907 billion won, an 11 percent
rise from last year.
sam@yna.co.kr
(END)
The shares were bought from Aug. 19 to Nov. 5 as part of its share buyback plans.
Shares of KT&G were trading at 86,700 won on the Seoul bourse as of 11:00 a.m.,
down 2.25 percent.
KT&G's third-quarter profit rose 15 percent on-year to 229 billion won, helped by
sales of high-margin cigarettes.
KT&G kept its full-year operating profit target at 907 billion won, an 11 percent
rise from last year.
sam@yna.co.kr
(END)
