Arab Today, arab today hyundai kia to spend over 600m to buy back shares
Last Updated : GMT 21:09:51
Arab Today, arab today
Arab Today, arab today

Hyundai, Kia to spend over $600m to buy back shares

Arab Today, arab today

Arab Today, arab today Hyundai, Kia to spend over $600m to buy back shares

Hyundai and Kia
Seoul - XINHUA

 South Korea's top automaker Hyundai Motor and its affiliate Kia Motors have announced a plan to buy back shares worth 670 billion won (613 billion U.S. dollars) to boost share prices, which have slumped recently after the September purchase of a property at a price three times higher than the assessed value.
Hyundai will buy back a combined 2,854,783 common and preferred shares valued at 449.1 billion won in terms of Monday's closing price, the regulatory filing showed Tuesday. It marked Hyundai's first buyback in nine years.
Kia will repurchase its 4,053,633 common shares worth 220.9 billion won. The buybacks will be completed by Feb. 11 next year. Hyundai said the buybacks will stabilize share prices and improve shareholders' value.
The plan came after a consortium of the two automakers and Hyundai Mobis won an auction for land in Seoul's central Gangnam district, paying 10.6 trillion won almost triple the assessed value to the state-run Korea Electric Power.
The power supplier put the prime land on the market in July as part of its plan to relocate its headquarters south of the country to meet the government's efforts to balance regional development.
Boosted by the buyback plan, Hyundai and Kia shares advanced 5. 7 percent and two percent each. The benchmark KOSPI rose 0.2 percent.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hyundai kia to spend over 600m to buy back shares Arab Today, arab today hyundai kia to spend over 600m to buy back shares

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hyundai kia to spend over 600m to buy back shares Arab Today, arab today hyundai kia to spend over 600m to buy back shares

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday