Shinhan Financial cuts planned share cancellation to 6,538,516 shares
SHG•Shinhan Financial Group cut its planned cancellation to 6,538,516 common shares from 6,698,565, with a revised value of KRW 700 billion. Share purchases concluded October 20, and cancellation is scheduled for November 4.
1. Revised cancellation plan
Shinhan Financial Group reduced its planned cancellation to 6,538,516 common shares from 6,698,565 in an October 20 correction. The revised cancellation value is KRW 700 billion, based on the shares’ carrying value.
2. Updated dates and effect
Share purchases concluded October 20, earlier than the previously scheduled October 22, and cancellation is scheduled for November 4. The cancellation will reduce outstanding common shares without reducing share capital.
