Hyundai Motor announced on the 18th that it has decided to acquire 500 billion won worth of treasury shares to enhance shareholder value.
Hyundai Motor will buy 2,136,681 common shares and 632,707 other shares by February 18 next year. The total amount is 504.6 billion won.
The stocks purchased this time are equivalent to 1% of the total number of shares issued.
It is the first time in more than 23 months that Hyundai Motor purchases its own shares to enhance shareholder value since it announced the purchase of its own shares worth 300 billion won in December 2019.
Hyundai Motor's decision to purchase its own shares is part of its shareholder value-raising policy since 2015. It plans to use it to strengthen shareholder return policies from a mid- to long-term perspective.
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
