Start Finance Hyundai Motor Co buys back 223 million dollar treasury stock

Hyundai Motor Co buys back 223 million dollar treasury stock

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Hyundai Motor Co., South Korea’s biggest carmaker by sales, said Friday it wants to buy back treasury shares worth over 250 billion won (US $ 223 million) to enhance shareholders‘ value.

Hyundai Motor to buy 213.7 billion won worth of common stocks and 41 billion won worth of other stocks from Monday to Feb. 28, the company said in a regulatory filing.

As of 9:45 a.m., shares in Hyundai Motor were trading 3.5 percent higher at 103,000 won, outperforming the broader KOSPI’s 0.16 percent gain.