KB Financial, Cancels 9.98 Million Treasury Shares on the 14th... Worth 800 Billion KRW

KB Financial Group is undertaking a value-up (corporate value enhancement) through the cancellation of treasury shares worth 800 billion KRW.

KB Financial announced on the 7th that it will cancel 9.98 million treasury shares on the 14th. The treasury shares to be canceled simultaneously include 5.58 million shares acquired since August last year (acquisition cost 300 billion KRW) and 4.4 million shares acquired since February this year (acquisition cost 320 billion KRW), totaling approximately 800 billion KRW based on the closing price on that day.

Amid increasing volatility in the domestic stock market and growing investor concerns, KB Financial's large-scale treasury share cancellation is expected to help promote the corporate value-up program and stabilize the market.

The cancellation procedure is expected to be completed by mid-September. After the procedure is completed in mid-September, the decrease in the total number of issued shares can be confirmed through the Mobile Trading System (MTS) and Home Trading System (HTS).

A KB Financial Group official stated, “Going forward, regardless of market volatility, we will continue to contribute to resolving the Korea discount by improving earnings per share (EPS) and book value per share (BPS) through continuous treasury share repurchases and cancellations.”