UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of October 2024
Commission File Number: 000-53445
KB Financial Group Inc.
(Translation of registrant’s name into English)
26, Gukjegeumyung-ro 8-gil, Yeongdeungpo-gu, Seoul 07331, Korea
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Resolution for the Cancellation of Treasury Shares
On October 24, 2024, the board of directors of KB Financial Group Inc. (“KB Financial Group”) resolved to cancel certain of its shares of common stock, which KB Financial Group plans to acquire as treasury shares prior to such cancellation pursuant to the announcement on Form 6-K dated October 24, 2024. The details are as follows:
| Type and Number of Shares to be Cancelled | Common Shares | 1,060,445 shares | ||
| Other Shares | — | |||
| Total Number of Shares Issued | Common Shares | 393,528,423 shares | ||
| Other Shares | — | |||
| Par Value per Share | KRW 5,000 | |||
| Estimated Amount of Shares to be Cancelled | KRW 100,000,000,000 | |||
| Scheduled Period of Acquisition of Treasury Shares for Cancellation | From | November 1, 2024 | ||
| To | April 30, 2025 | |||
| Method of Acquisition of Shares to be Cancelled | Purchase on the stock exchange (KRX) | |||
| Scheduled Date of Cancellation | To be determined | |||
| Brokerage Company Appointed for the Share Acquisitions | Samsung Securities Co., Ltd. | |||
| Date of Resolution by the Board of Directors | October 24, 2024 | |||
| Obligation to Report to the Korea Fair Trade Commission | Not applicable | |||
| Other Material Information for an Investment Decision |
• Legal basis for the cancellation of treasury shares: Article 343-1 of the Commercial Code of Korea.
• The cancellation of these shares constitutes the cancellation of treasury shares acquired pursuant to a resolution of the board of directors within the limits of profits available for the payment of dividends, and as such, there will be no reduction in the paid-in capital of KB Financial Group.
• The above “Estimated
Amount of Shares to be Cancelled” has been calculated as of the date of the resolution of the board of directors, while the above “Type and Number of Shares to be Cancelled” has been calculated based on the closing price of the common
shares of KB Financial Group as of October 23, 2024 (one day prior to the date of the resolution of the board of directors), which was KRW 94,300. | |||
|
The actual number and amount of shares to be cancelled is subject to change depending on fluctuations in the share price and will be disclosed at a future date prior to the cancellation.
• The starting date of the above “Scheduled Period of Acquisition of Treasury Shares for Cancellation” is the date of signing of the trust agreement, and the actual purchase period may differ from such date.
• KB Financial Group plans to cancel all of the treasury shares following the completion of the acquisition of the treasury shares. For detailed information regarding the acquisition of the treasury shares, please refer to the Form 6-K titled “Resolution to Enter into a Trust Agreement for the Acquisition of Treasury Shares” of KB Financial Group furnished on October 24, 2024. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| KB Financial Group Inc. | ||||||
| (Registrant) | ||||||
| Date: October 24, 2024 | By: | /s/ Jae Kwan Kim | ||||
| (Signature) | ||||||
| Name: Jae Kwan Kim | ||||||
| Title: Senior Executive Vice President and Chief Finance Officer | ||||||