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SK Hynix to Buy Back, Retire $28.9 Billion of Shares to Boost Shareholder Value
JOON HYOUNG LEE
Summary
- SK Hynix said in a filing that it will pursue a $28.9 billion treasury-share buyback and retirement.
- The company said it had decided to acquire 24.07 million common treasury shares through open-market purchases.
- It said the purpose of the acquisition is to enhance shareholder value through the retirement of treasury shares.
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SK Hynix will buy back and retire shares worth about $28.9 billion to boost shareholder value.
The company said in a regulatory filing on Aug. 19 that it had decided to acquire 24.07 million common shares through open-market purchases.
The buyback is valued at about 40.0043 trillion won, or $28.9 billion.
SK Hynix said the purpose of the acquisition is to enhance shareholder value through the retirement of treasury shares.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul