South East Ying SK hynix Daily Leverage 2X Product (07709) Plummets Over 11% as SK hynix Completes 40 Trillion Won Share Buyback Early

Stock News10-22 14:08

South East Ying SK hynix Daily Leverage 2X Product (07709) widened its losses in the afternoon, falling 11.82% to HK$17.35 as of press time, with a turnover of HK$2.062 billion.

On the news front, according to market media reports, following Samsung Electronics, SK hynix also concluded its large-scale share buyback on October 21. SK hynix stated that the company completed a two-month share buyback worth 40 trillion won on the Korea Exchange (KOSPI) that day.

Previously, SK hynix announced it would invest 40.0434 trillion won to repurchase 24.07 million shares of the company and cancel all repurchased shares upon completion. This buyback accounted for approximately 3.3% of the company's total issued shares, making it the largest share cancellation operation by a Korean listed company. SK hynix originally announced a buyback period from August 20 to November 19, but the actual repurchase work was completed about one month ahead of schedule.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment