Samsung Electronics, “Repurchase of 10 trillion won shares”… 3 trillion won to be incinerated within 3 months

Samsung Electronics announced on the 15th that it would purchase 10 trillion won worth of treasury stocks to improve shareholder value. Of these, 3 trillion won worth of treasury stock was decided to be purchased and burned within three months.

Samsung Electronics held a board meeting on this day and announced that it had decided on a plan to purchase a total of 10 trillion won worth of treasury stocks in installments over the next year.

Of these, 3 trillion won worth of treasury stock was decided to be purchased and burned within three months. The treasury stock that is planned to be purchased and burned through over-the-counter purchase from the 18th to February 17th of next year is 50,144,628 shares of common stock and 6,910,236 shares of preferred stock.

Regarding the remaining KRW 7 trillion worth of treasury stocks, it was announced that a decision will be made after various discussions on the method and timing of utilization, etc. from the perspective of enhancing shareholder value when individual board resolutions are made to acquire treasury stocks.

Earlier on this day, Samsung Electronics closed at 53,500 won in the stock market (KOSPI), up 7.21% from the previous day (49,900 won), successfully rebounding after 6 trading days. As a result, it fell to ‘40,000 electrons’ for the first time in 4 years and 5 months the previous day, but returned to ‘50,000 electrons’ in one day.

Samsung Electronics’ market capitalization also rose again to 300 trillion won in one day, reaching 321.1743 trillion won.

This appears to be because foreign investors began net buying after 13 trading days. According to the Korea Exchange, foreign investors net bought Samsung Electronics on this day for 134.77 billion won, turning into net buyers for the first time since the 29th of last month. Institutions also made net purchases of 53.139 billion won. On the other hand, individuals net sold 222.571 billion won, converting to net selling in 11 trading days.

Samsung Electronics has not repurchased its own shares since canceling all of its shares at the end of 2018. At that time, approximately 485 million shares of common stock and 89 million shares of preferred stock were canceled.

https://n.news.naver.com/article/032/0003332795?sid=101

Oh, I should go in a little more.