[Edaily Reporter Kim Kyung-eun ] SKSecurities(001510)has been on an upward trend for two consecutive trading days. This is interpreted as reflecting expectations of increased commission revenue, as SKSecurities has been entrusted with SK hynix(000660)’s 40 trillion won share buyback program.
According to MP Doctor on the 21st, as of 9:10 a.m., SKSecurities is trading at 3,350 won, up 540 won (19.22%) from the previous trading day. Following yesterday’s hit to the daily price limit, this marks the second consecutive trading day of gains.
The rise in the stock price is believed to stem from expectations that SKSecurities, which is acting as the broker for the buyback, will benefit from SK hynix’s decision to acquire and cancel 40 trillion won worth of its own shares.
SK hynix held a board meeting on the 19th and decided to acquire 24.07 million common shares on the open market. The estimated acquisition cost is 40.00434 trillion won, representing approximately 3.3% of the total issued shares.
The share buyback period runs from yesterday through November 19. SKSecurities will act as the commissioned investment broker for the buyback. The maximum daily purchase order volume is 2,407,000 shares.
SK hynix plans to complete the buyback within the designated period and cancel all shares within one to two weeks thereafter.
At this time, SK hynix is trading at 1,706,000 won, up 15,000 won (0.89%) from the previous trading day.
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