Hyundai and Kia to Buy Back 670 Bil. Won Shares
Hyundai and Kia to Buy Back 670 Bil. Won Shares
  • Korea IT Times (info@koreaittimes.com)
  • 승인 2014.11.12 18:15
  • 댓글 0
이 기사를 공유합니다

SEOUL, KOREA - Hyundai Motor and KiaMotors announced a 670-billion-won buyback program as part of an effort toappease their investors who are disappointed with the recent plunge in theirshare prices.

The two car makersannounced on November 11 that they will buy back 450 billion won and 220.9billion won shares each.

Under this plan,Hyundai Motor will buy back 2.2 million ordinary shares and 650,000 preferredshares, while Kia Motors will buy back 4.05 million ordinary shares.

Thanks to their buybackdecision, their share prices turned upward after declining in the morning sessiondue to the news that automobiles are excluded in the list of tariff concessionsin the recently signed Korea-China free trade agreement.

The share price ofHyundai Motor has plunged by about 20 percent over the past one and a halfmonth since it acquired the site for former Korea Electric PowerCorp.headquarters and surrounding properties at 10.5 trillion won, three timesmore than the going price.

 

Article provided by The Korea Economic Daily


댓글삭제
삭제한 댓글은 다시 복구할 수 없습니다.
그래도 삭제하시겠습니까?
댓글 0
댓글쓰기
계정을 선택하시면 로그인·계정인증을 통해
댓글을 남기실 수 있습니다.

  • Korea IT Times: Copyright(C) 2004, Korea IT Times. .Allrights reserved.
  • #1206, 36-4 Yeouido-dong, Yeongdeungpo-gu, Seoul, Korea(Postal Code 07331)
  • 서울특별시 영등포구 여의도동 36-4 (국제금융로8길 34) / 오륜빌딩 1206호
  • * Mobile News: m.koreaittimes.com
  • * Internet news: www.koreaittimes.com
  • * Editorial Div. 02-578-0434 / 010-2442-9446 * PR Global/AD: 82-2-578-0678.
  • * IT Times Canada: Willow St. Vancouver BC
  • 070-7008-0005
  • * Email: info@koreaittimes.com
ND소프트