SK hynix said in a regulatory filing on Tuesday that it has decided to cancel 12.24 trillion won ($12.24 trillion) worth of its own shares.
The company will cancel 15.3 million common shares on Feb. 9. The par value is 5,000 won per share.
SK hynix said the cancellation will be carried out under the proviso to Article 343(1) of the Commercial Act, using treasury shares previously acquired within the limit of distributable profits and canceled by a board resolution. It said the total number of shares outstanding will fall, but paid-in capital will not.
* This article has been translated by AI.
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