Samsung Electronics to cancel W14.5tr worth of treasury stocks

Samsung Electronics Co. plans to cancel 14.5 trillion won (9.5 billion) worth of its treasury stocks as part of a buyback program aimed at enhancing shareholder value, the company said Tuesday. Around 73.3 million common stocks and 13.6 million preferred shares will be retired Thursday, it said in a regulatory filing. The move follows board decisions made in February and July last year to repurchase its own shares, the company said.