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Photo=HMM |
[Alpha Biz= Kim Jisun] HMM is reportedly preparing to repurchase up to 2 trillion KRW worth of its own shares, with a tender offer emerging as the most likely method. The company has appointed KB Securities as the lead manager for the potential buyback.
According to a report by the Seoul Economic Daily on Monday, HMM is aiming to initiate the share repurchase as early as the first half of this year and has begun strategic planning with KB Securities.
Earlier this year, HMM announced a shareholder return program worth over 2.5 trillion KRW within a year as part of its efforts to boost corporate value. With 528.6 billion KRW in dividends scheduled to be paid out this month, the remaining amount—up to 2 trillion KRW—is expected to be allocated for the share buyback.
Under Korea’s Commercial Act and Capital Markets Act, share repurchases must be conducted in a manner that ensures equal treatment of all shareholders. As a publicly listed company, HMM can repurchase shares either through open market purchases or by conducting a public tender offer. Industry insiders believe that the company is leaning toward a tender offer over market purchases.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
