Samsung Electronics to cancel $2.11 billion worth of own shares


FILE PHOTO: The logo of Samsung Electronics is seen at its booth during The 26th Semiconductor Exhibition 2024 in Seoul, South Korea, October 23, 2024. REUTERS/Kim Hong-Ji/File Photo

SEOUL (Reuters) - Samsung Electronics has decided to cancel 3.05 trillion won ($2.11 billion) worth of its own shares that it had acquired previously, the company said in a regulatory filing.

Samsung also said in a separate regulatory filing it would acquire 2.7 trillion won worth of its own common shares, and 304 billion won worth of other shares, between Feb 19 and May 16 this year to raise shareholder value and benefit its employees.

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