|LG International Concludes a Trust Agreement Regarding the Acquisition of Treasury Stock Worth 100 Billion Won|
|Date : 2020-04-03 | View : 2,148|
LG International Concludes a Trust Agreement Regarding the
Acquisition of Treasury Stock Worth 100 Billion Won
On April 03, LG International made a public announcement that it will conclude a trust agreement for the acquisition of treasury stock worth 100 billion won with the purpose of improving the shareholder value and stabilization of the stock price. The period of the contract is from April 06 to Dec 15, and KB Securities is the broker for the consigned investment.
Up until recently, LGI has been focusing on securing financial stability through continuous asset management efficiency such as the disposal of non-business assets. Last month, the company disposed of all of its shares in Beijing LG Twin Tower to prepare for the large-scale source of investment while at the same time enhance its financial structure stability.
A member from LGI stated that “This contract was decided with the aim of improving the shareholder value and stabilization of the stock price in response to the situation where the stock index is falling due to economic stagnation and a rise in uncertainty caused by the COVID-19 pandemic.”