Hanmi Semiconductor (Photo Credit: Hanmi Semiconductor)

 

[Alpha Biz= Reporter Kim Sangjin] Hanmi Semiconductor has decided to cancel 379,375 shares of its treasury stock, valued at approximately 37.3 billion won (about $373 million), as part of its strategy to enhance shareholder value.

The company stated that this share cancellation will not result in a reduction of capital, as it is being funded through distributable profits from previously acquired treasury shares.

Over the past three years, Hanmi Semiconductor has completed the cancellation of a total of 2,305,435 shares, amounting to 226.4 billion won (approximately $226.4 million).

Kwak Dong-shin, Vice Chairman and CEO of Hanmi Semiconductor, commented that this decision reflects the company’s commitment to increasing shareholder value and confidence in its future prospects in the artificial intelligence semiconductor market.

 

 

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