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Hanmi Semiconductor. (Photo = Hanmi Semiconductor) |
[Alpha Biz= Kim Jisun] Hanmi Semiconductor has decided to burn 1.3 million of its own shares (worth approximately 1.3 billion won), marking the largest share buyback and cancellation in its history.
According to the financial regulator’s filing on Thursday, the purpose of the share cancellation is to enhance shareholder value, with the process set to take place in May.
Previously, the company had already canceled 72,5043 shares worth 573 million won out of a total of 2 billion won in shares purchased last year. With the addition of this 1.3 billion won worth of shares, the total canceled would represent 94% of the shares acquired.
Earlier, Hanmi Semiconductor's CEO, Dong-shin Kwak, had announced on the 10th that he would acquire about 20 billion won worth of the company’s shares. Including this recent purchase, his total share acquisition since 2023 amounts to about 39.3 billion won.
Hanmi Semiconductor stated that the decision was made based on its confidence in its future value driven by the growth of the artificial intelligence (AI) semiconductor market, as well as to enhance corporate value and shareholder returns.
The company, with around 320 global customers, owns a semiconductor equipment production cluster spanning 89,530m² (approx. 27,083 pyeong) in the National Industrial Complex of Seo-gu, Incheon.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
