(Bloomberg) -- Samsung Electronics Co. shares surged Monday after South Korea’s biggest company announced a surprise plan late Friday to buy back about 10 trillion won ($7.2 billion) of its own stock over the next year.
The stock rose as much as 6.7% in Seoul trading Monday, adding to Friday’s 7.2% rise ahead of the news. Samsung will buy back about 3 trillion won of shares starting Monday and up till February 2025, all of which it will cancel. The board will deliberate how best to deploy the remaining 7 trillion won.
Analysts expect the buyback to provide a short-term catalyst to the stock, which slumped more than 30% this year before Monday’s jump. Its local competitor SK Hynix Inc. has climbed more than 20% over the same period.
©2024 Bloomberg L.P.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。