In a regulatory filing, Samsung Electronics has disclosed its intent to cancel shares valued at 3.05 trillion won, equivalent to $2.11 billion. This move is part of a broader strategy to manage its shareholdings and influence its market position.
Furthermore, Samsung revealed plans to acquire additional shares, amounting to 2.7 trillion won in common shares and 304 billion won in other shares, scheduled between February 19 and May 16. The aim is to enhance shareholder value and extend benefits to employees, reflecting the company’s ongoing commitment to stakeholder engagement.
These decisions align with Samsung’s prior announcement in November of the previous year, where it committed to a 10 trillion won share buyback over 12 months. The initiative is partly a response to comparative underperformance in share prices against industry rivals like SK Hynix, marking a strategic buyback effort not seen since 2017.
Samsung Electronics’ actions reflect a calculated approach to bolster shareholder value and navigate competitive market dynamics.