KT Corporation Reduces Shares, Capital Unchanged

KT Corporation (KT) has released an update.

KT Corporation announces its decision to retire 5,143,300 common shares, reducing the total outstanding shares to 252,021,685 and reaffirming no decrease in capital, as the buyback involves treasury shares within distributable profits. This move, expected to be completed by May 24, 2024, represents a 2% reduction of total issued shares and follows the Board of Directors’ resolution on May 9, 2024.

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