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  • SK Innovation to buy back shares worth 1 tln won
    SK Innovation to buy back shares worth 1 tln won
    SK Innovation Co., South Korea's leading refiner, said Monday it will buy back 1 trillion won ($934.5 million) worth of its own shares to enhance shareholder value. The firm's shareholders approved the plan to buy 5.2 million shares, or 5.6 percent of the total, in the main KOSPI market within the next three months. (Yonhap)"The decision is part of SK Innovation's efforts to increase the shareholder value," the comp...
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SK Innovation to buy back shares worth 1 tln won

April 30, 2018 - 20:38 By Yonhap

SK Innovation Co., South Korea's leading refiner, said Monday it will buy back 1 trillion won ($934.5 million) worth of its own shares to enhance shareholder value.

The firm's shareholders approved the plan to buy 5.2 million shares, or 5.6 percent of the total, in the main KOSPI market within the next three months.

 

(Yonhap)

"The decision is part of SK Innovation's efforts to increase the shareholder value," the company said in a release.

Last week, SK Innovation said it will nix the initial public offering plan of its subsidiary SK Lubricants Co. out of concerns over the undervaluation of its offering.

SK Innovation was planning to use the proceeds from stake sales in its affiliate to fund its future growth. (Yonhap)

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