6-K
KB Financial Group Inc. (KB)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OFFOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of May 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 ☐
Update on the Acquisition of Treasury Shares through Trust Agreements
On May 10, 2024, KB Financial Group Inc. (“KB Financial Group”) disclosed the interim results for its two currently ongoing share buyback programs. The first program commenced on August 1, 2023 through a trust agreement with Samsung Securities Co., Ltd. to acquire treasury shares within its profits available for dividends, as disclosed on July 25, 2023 and November 3, 2023 (the “First Trust Agreement”), and the second program commenced on February 8, 2024, through a trust agreement with Samsung Securities Co., Ltd. to acquire treasury shares within its profits available for dividends, as disclosed on February 7, 2024 (the “Second Trust Agreement” and, together with the First Trust Agreement, the “Trust Agreements”).
Details of KB Financial Group’s treasury shares as of May 7, 2024 are as follows:
(1) Treasury shares acquired pursuant to the Second Trust Agreement from February 8, 2024 to May 7, 2024:
| Type of Shares | Common Shares |
|---|---|
| Number of Shares Acquired | 3,350,000 |
| Percentage of Total Issued Shares^(1)^ | 0.83% |
| Average Acquisition Price per Share (Unit: KRW) | 70,527 |
| Total Acquisition Amount (Unit: millions of KRW) | 236,267 |
| Contracted Amount (Unit: millions of KRW) | 320,000 |
Note: (1) Based on the total number of 403,511,072 shares of common stock issued.
(2) Treasury shares acquired pursuant to the Trust Agreements as of May 7, 2024:
| (Units: millions of KRW, shares) | First Trust Agreement | Second Trust Agreement | ||
|---|---|---|---|---|
| Date of Agreement | August 1, 2023 | February 8, 2024 | ||
| Contract Period | From | August 1, 2023 | From | February 8, 2024 |
| To | July 31, 2024 | To | August 7, 2024 | |
| Contracting Party | Samsung Securities Co., Ltd. | Samsung Securities Co., Ltd. | ||
| Contracted Amount (A) | 300,000 | 320,000 | ||
| Type of Shares Acquired | Common Shares | Common shares | ||
| Number of Shares Acquired | 5,584,514 | 3,350,000 | ||
| Total Acquisition Amount (B) | 300,000 | 236,267 | ||
| Total Acquisition Amount as a Percentage of the Contracted Amount (B/A) | 100.0% | 73.8% |
(3) Details of KB Financial Group’s treasury shares as of May 7, 2024:
| Treasury shares held prior to the acquisition of shares under the Trust Agreements (A) | Type of Shares | Common Shares |
|---|---|---|
| Number of Shares | 14,262,733 | |
| Percentage of Total Issued Shares^(1)^ | 3.53% | |
| Total Amount (Unit: millions of KRW) | 862,082 | |
| Treasury shares acquired pursuant to the Trust Agreements (B) | Type of Shares | Common Shares |
| Number of Shares Acquired | 8,934,514 | |
| Percentage of Total Issued Shares^(1)^ | 2.21% | |
| Contracted Amount (Unit: millions of KRW) | 620,000 | |
| Total treasury shares held (A+B) | Type of Shares | Common Shares |
| Number of Shares | 23,197,247 | |
| Percentage of Total Issued Shares^(1)^ | 5.75% | |
| Aggregate Amount (Unit: millions of KRW)^(2)^ | 1,482,082 |
Notes: (1) Based on the total number of 403,511,072 shares of common stock issued.
| (2) | The aggregate amount is based on the sum of the total amount held prior to the acquisition of shares under the<br>Trust Agreements and the total contracted amount of shares to be acquired pursuant to the Trust Agreements. |
|---|
The acquisition of treasury shares pursuant to the Second Trust Agreement is still ongoing.
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: May 10, 2024 | By: | /s/ Jae Kwan Kim |
| (Signature) | ||
| Name: | Jae Kwan Kim | |
| Title: | Senior Executive Vice President and Chief Finance Officer |