[Edaily Reporter KIM YOON-JEONG ] Yuhan Corporation is trading higher in early trading. This is seen as reflecting expectations of increased shareholder returns following the company’s decision to cancel 425.3 billion won worth of treasury stock. According to MP Doctor on the 24th, Yuhan(000100)was trading at 76,600 won as of 9:11 a.m. today, up 5,200 won (7.28%) from the previous trading day. The previous day, Yuhan Corporation announced its plan to cancel treasury shares worth 425.3 billion won. The cancellation is scheduled for the 31st of this month. The total number of shares to be retired is 6,064,420, accounting for 7.5% of the total issued shares. Yuhan Corporation stated that the purpose of the treasury stock cancellation is to enhance shareholder value. The company explained, “Only the total number of issued shares will decrease; there will be no reduction in capital,” adding, “The scheduled cancellation date is subject to change during consultations with relevant authorities.”
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