Samsung Electronics has decided to cancel 3.05 trillion won ($2.11 billion) worth of its own shares that it had acquired previously, the company said in a regulatory filing. Samsung also said in a separate regulatory filing it would acquire 2.

The electronics company's decision to cancel $2 billion of its own shares helps it boost the value of its remaining shares.

Chairman Lee Jae-yong not nominated for board amid legal uncertainties Samsung Electronics said Tuesday it would cancel 3.05 trillion won ($2.11 billion) worth of its own previously purchased shares as part of its plan to boost shareholder value.

Samsung Electronics (SSNLF) (GB:SMSN) announced a massive cancelation for ₩3 trillion ($2.1 billion) worth of its shares from circulation,