Samsung To Buy Back KRW 10 Tln Of Stock

(RTTNews) - Samsung Electronics Co Ltd (SMSN.L, SSNNF.OB, SSNLF.OB) said that it plans to buy back a total of 10 trillion Korean won in the company's shares. The share repurchase program will be carried out in phases over the next 12 months.

In the next three months, 3 trillion Korean won in stock will be repurchased and all of the shares will be canceled. This buyback will begin from November 18 to February 17, 2025 and will comprise of 50.14 million common shares and 6.91 million preferred shares, the company said.

The remaining KRW 7 trillion in the repurchase program will be authorized accordingly by the Board, which will decide on ways to enhance shareholder value, including when and how to use the treasury shares.