LG Sangsa Signs Trust Contract for Acquisition of Treasury Stocks Worth 100 Billion KRW

[Asia Economy Reporter Woo Su-yeon] LG Sangsa announced on the 3rd that it will enter into a trust contract to acquire treasury shares worth 100 billion KRW to enhance shareholder value and stabilize its stock price.

The contract period is from April 6 to December 15, and the entrusted investment brokerage firm is KB Securities.

LG Sangsa has been making efforts to secure financial stability through continuous asset management efficiency, such as selling non-operating assets until recently. Last month, it sold all its shares in the LG Beijing Twin Tower, securing large-scale investment funds while further strengthening its financial structure stability.

An LG Sangsa official stated, "This decision was made to enhance shareholder value and stabilize the stock price amid concerns about the economy and increased uncertainty due to the global spread of the novel coronavirus infection (COVID-19), which has caused the stock price to decline."