[Infostock Daily= Reporter An Hoe Hyun] SK Telecom announced on the 28th that it decided to acquire treasury stock worth 500 billion won to raise shareholder value and stabilize stock price by opening a regular board meeting on the 27th.
The purchase of treasury stock will be conducted through SK Securities, a trust investment broker, through a trust contract and the contract period is one year from this day until August 27 next year.
SK Telecom's market capitalization is 19.823 trillion won(based on the previous day's closing price of 24550 billion won), which is 2.5% of the market capitalization.
SK Telecom's current treasury stock is about 7.6 million shares, which is 9.4% of the total stock.
Reporter An Hoe Hyun ahh@infostock.co.kr
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