SK Hynix Plans Record $45 Billion Share Buyback
Listen to the story
SK Hynix is a big company from South Korea. It makes computer chips.
The company will buy back its own shares. This is called a share buyback. The plan is worth 40 trillion won. That is about 45 billion dollars.
This is the biggest share buyback ever in South Korea.
SK Hynix will also cancel the shares after it buys them. This means the shares will not exist anymore.
Companies do this to give money back to shareholders. Shareholders are people who own part of the company.
The news made another company, Kioxia, go up in price too. Kioxia makes similar products.
Kioxia's share price rose on the PTS market. PTS means a trading market that is open after normal hours.
People think chip companies are doing well right now.
Vocabulary8 words
- share
- a small part of a company that people can buy
- share buyback
- when a company buys back its own shares
- cancel
- to stop something from existing
- shareholder
- a person who owns part of a company
- share price
- how much one share costs
- PTS market
- a market where people trade after normal hours
- chip
- a small part inside computers
- company
- a business that sells things
Quiz
Answer key
1. Its own shares 2. 40 trillion won, about 45 billion dollars 3. True
Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
SK Hynix is a big company from South Korea. It makes computer _____.
The company will buy back its own _____. This is called a share buyback. The plan is worth _____ trillion won. That is about 45 billion dollars.
This is the biggest share buyback ever in South Korea.
SK Hynix will also _____ the shares after it buys them. This means the shares will not exist anymore.
Companies do this to give money back to _____. Shareholders are people who own part of the company.
The news made another company, _____, go up in price too. Kioxia makes similar products.
Kioxia's share price rose on the _____ market. PTS means a trading market that is open after normal hours.
People think _____ companies are doing well right now.