April 26, 2019 / 7:31 AM / a month ago

Hyundai Mobis says to cancel $225 mln treasury shares in late April

SEOUL, April 26 (Reuters) - South Korea’s Hyundai Mobis said on Friday it would cancel treasury shares worth 261 billion won ($225 million) in late April.

The company will also buy back one third of 1 trillion won worth of its shares within the second half of this year, some of which it will also be cancelled, it said in a regulatory filing.

The move is part of a shareholders return plan that the auto parts arm of Hyundai Motor Group unveiled earlier this year, a company official said. ($1 = 1,160.0900 won) (Reporting by Ju-min Park and Hayoung Choi; editing by Gopakumar Warrier)

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