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DB HiTek Bucheon Plant. (Photo=DB HiTek) |
[Alpha Biz= Paul Lee] DB HiTek has announced its first-ever treasury share cancellation plan, pledging to fully dispose of its treasury shares through cancellation, exchangeable bond (EB) issuance, and employee compensation programs.
As of now, the company holds 4.15 million shares, or 9.35% of its outstanding stock. Of these, 3.11 million shares (7.02%) will be disposed of within this year. The plan includes canceling 894,000 shares (2.02% of total shares) by the end of September following board approval, and utilizing 2.22 million shares for a KRW 100 billion EB issuance to finance the expansion of its Fab 2 cleanroom in Eumseong, Chungcheongbuk-do, and next-generation power semiconductor production.
The remaining 1.04 million shares (2.33%), acquired by June this year, cannot be disposed of until year-end under capital market regulations. DB HiTek plans to cancel 592,000 shares (1.33%) and allocate 444,000 shares (1%) to employee compensation and the company’s welfare fund in 2025.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
