SK Telecom Decides to Acquire Treasury Shares Worth 500 Billion KRW

[Asia Economy Reporter Seulgina Jo] SK Telecom announced on the 28th that it held a regular board meeting on the 27th and resolved to acquire treasury shares worth 500 billion KRW to enhance shareholder value and stabilize the stock price.

This treasury share repurchase will be conducted through a trust contract with SK Securities, a delegated investment brokerage firm, and the contract period is one year from August 28 to August 27, 2021.

SK Telecom stated, "Over the past three years, we have reorganized our New ICT portfolio including media, security, and commerce, and expect full-scale corporate growth starting this year," adding, "In line with the trend of New ICT businesses being reflected in corporate value, we decided to repurchase treasury shares to stabilize the stock price and enhance shareholder value."

SK Telecom currently holds approximately 7.6 million treasury shares, accounting for 9.4% of the total number of shares.

This content was produced with the assistance of AI translation services.