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Photo=HMM |
[Alpha Biz= Kim Jisun] Seoul, South Korea – April 22, 2025 – South Korean shipping company HMM Co., Ltd. (formerly Hyundai Merchant Marine) is accelerating its share buyback program as part of its previously announced “Value-Up” initiative aimed at enhancing corporate value.
According to an HMM spokesperson on Monday, the company is in the final stages of selecting a lead underwriter for the buyback, with KB Securities among the firms under consideration.
“We are reviewing options such as appointing KB Securities as lead manager. It is not yet decided whether we will repurchase KRW 2 trillion in one tranche or in multiple phases,” the spokesperson said. “Details regarding the method, timeline, and procedure of the buyback will be finalized after the underwriter is officially selected.”
Back in January, HMM unveiled a shareholder return program worth at least KRW 2.5 trillion to be executed within a year. Of that, KRW 528.6 billion has already been allocated for dividend payouts, while the remaining KRW 2 trillion is expected to be used for the repurchase of company shares.
This move underscores HMM’s commitment to enhancing shareholder value amid efforts to boost market confidence and improve capital efficiency.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
