Daewoo Engineering & Construction to Cancel 4.715 Million Treasury Shares to Enhance Shareholder Value
Daewoo Engineering & Construction will cancel 4,715,000 treasury shares to increase shareholder and corporate value. The cancellation, valued at approximately KRW 42 billion, is scheduled for March 18. This action aims to improve earnings per share by reducing the number of outstanding shares without capital reduction. The company also plans to target new orders of KRW 18 trillion by 2026, focusing on various large-scale projects and expanding into future growth areas.
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Daewoo Engineering & Construction's board has approved the cancellation of 4,715,000 treasury shares to enhance shareholder value, with an estimated value of KRW 42 billion based on the March 3 closing price. The cancellation will take place on March 18 and is aimed at increasing stock value by reducing the number of outstanding shares, improving earnings per share.
This move aligns with the government's Corporate Value-Up Program. Daewoo E&C targets 18 trillion won in new orders by 2026, focusing on major projects such as a nuclear power plant in the Czech Republic and expanding into energy sectors like AI data centers.
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