Samsung Electronics is poised to complete its 10 trillion won ($7.14 billion) share buyback program this week, having disclosed plans Friday to purchase about 40 billion won of shares in its final round.
According to a filing on the Korea Exchange’s KIND disclosure system, the company applied Friday to buy 426,000 common shares and 67,000 preferred shares. Based on Friday’s closing prices — 83,300 won for common shares and 65,200 won for preferred — the planned purchases are valued at roughly 35.5 billion won and 4.37 billion won, respectively.
The transactions would complete the last phase of the buyback program announced July 8, which targeted 3.51 trillion won of common shares and 401.9 billion won of preferred shares for purchase between July 9 and Oct. 8 at prevailing market prices.
As of Friday, Samsung had fulfilled nearly 99 percent of its target by value, having bought about 3.47 trillion won in common shares and 397.5 billion won in preferred shares. The exact number of shares to be purchased has not been confirmed, but if the latest filing is executed in full, the total will likely exceed the initial target.
With markets set to close Friday for the Chuseok holiday and reopen Oct. 10, Samsung must complete its buybacks by Thursday. A company official said daily transactions cannot be confirmed in advance and that the final buyback amount will be disclosed after completion.
The final installment caps an 11-month effort to repurchase 10 trillion won in shares as part of Samsung’s plan to boost shareholder value.
The program began in November 2024, with the first 3 trillion won batch completed and cancelled in February. A second segment of similar size was completed in May, with 2.5 trillion won slated for cancellation and 500 billion won allocated for employee compensation. Of the last 4 trillion won portion, about 2.8 trillion won will be cancelled, with the remainder also set aside for compensation.
Samsung Electronics, the largest constituent of Korea’s benchmark Kospi index, has seen its shares surge more than 60 percent during the buyback period, from 53,500 won before the plan’s announcement in mid-November to a 52-week high of 86,200 won last week. That outpaced the Kospi’s roughly 45 percent gain over the same period, underscoring that the program likely contributed to the stock’s outperformance.
jwc@heraldcorp.com
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