OCI Holdings announced on the 29th that its board of directors decided to proceed with the repurchase and cancellation of treasury shares amounting to 5% of the total issued shares from this year until 2026.
On the 1st of next month, the company plans to enter into a trust agreement for approximately KRW 40 billion, equivalent to 2% of the total issued shares, and will cancel the shares upon completion of acquisition. Subsequently, the remaining shares will be repurchased and canceled in the same manner.
OCI Holdings explained the purpose as "resolving the low price-to-book ratio (PBR) through the acquisition and cancellation of treasury shares and enhancing medium- to long-term corporate value." It added, "Additional shareholder return policies, such as value-up programs, will be decided and announced through board resolutions."
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