SK hynix said it ended its 40 trillion won share-repurchase program on Oct. 21, ahead of schedule, with cancellation of the acquired stock still pending as a separate step.
The company stopped buying on Oct. 21, before the original Nov. 19 end date. The buying window opened on Aug. 20, with transactions taking place on the country’s primary exchange. The acquisitions spanned about two months.
For SK hynix, the plan’s 24.07 million-share volume came to about 3.3% of its issued shares. The company said all shares acquired in the program are slated for cancellation. The repurchase is over, but formal cancellation has not yet taken place.
SK hynix said its planned share retirement would exceed any previously announced by a South Korean listed company. Samsung Electronics had finished another major repurchase before SK hynix closed its buying window. Cancellation is the remaining action in SK hynix’s plan.
