Tobacco maker KT&G to buy back, cancel 1.5 mln shares By Nam Kwang-sik

SEOUL, Sept. 4 (Yonhap) -- KT&G Corp., South Korea's biggest tobacco company, said Friday it will spend 101.2 billion won (US$81.2 million) to buy back and cancel 1.5 million shares to help boost share prices.

KT&G will conduct the share buyback from Sept. 7-Dec. 4, the company said in a
regulatory filing.
The cancellation of its shares is designed to prop up share prices and thus
maximize shareholder value, the company said.
ksnam@yna.co.kr
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