LG Electronics to retire about $50 mn treasury stock in 2025

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LG Electronics to retire about $50 mn treasury stock in 2025 - Korea Economic Daily

Quick Summary:

The initial public offering of LG Electronics India Pvt.is part of its effort to boost the company’s enterprise value, LG added.On Dec.6, its wholly owned Indian unit filed a preliminary prospectus of its IPO, or a draft red herring prospectus (DRHP), with the Securities and Exchange Board of India.

Including the treasury stock retirement, it will return more than 25% of consolidated net profits, excluding non-recurring gains, to shareholders in dividend payments from the business year of 2024 to 2026, LG said in a regulatory filing.

To achieve the goals, the company will beef up subscription-based business and business-to-business services such as heat ventilation and air conditioning devices, automotive electronics products and smart factory systems.