사진 확대
SK Group Chairman Chey Tae-won (photo) bought 4.8 billion won worth of SK Hynix shares. It is interpreted as an insider purchase that signals that the stock price is undervalued at a time when SK Hynix’s stock price has fallen more than half from its peak.
According to the Financial Supervisory Service’s electronic disclosure system on the 30th, Chairman Choi purchased 3,620 shares of SK Hynix on the market. It is estimated that the purchase volume has been set below that to avoid the insider trading pre-disclosure system, which must be disclosed 30 days before the transaction for purchases of more than 5 billion won by related parties. The average purchase price is around 1.32 million won on the 30th.
SK Group described Chairman Choi’s purchase as “a dimension of implementing responsible management.”
In a conference call held after the earnings announcement, SK Hynix was criticized for saying that it is considering various ways to return shareholders, even though it reported its highest quarterly performance in both sales and operating profit the previous day. As a result, SK Hynix’s stock price fell more than 9% the previous day and fell below 1.3 million won at one point during the day.
It was also interpreted that this is a step that SK Hynix can take right away at a time when it cannot announce a specific return of shareholders until the 4th of next month due to the impact of the listing of the U.S. stock deposit certificate (ADR). Listed companies that have launched public offerings to issue new shares in the U.S. stock market will be obliged to issue investment manuals for 25 days, including weekends, from the start of trading. During this period, if significant information such as large-scale treasury stock purchases that are not in the investment prospectus at the time of listing is disclosed, there is a possibility of a class action under the U.S. securities law.
[Reporter Kim Jerim / Reporter Lee Jinhan]
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Hynix
Responsible Management
SK Group
Financial Supervisory Service
Electronic Disclosure System
Special Relationship