Hyundai Motor buys back $422 million of shares

Fri Feb 6, 2015 3:40am EST
 
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SEOUL (Reuters) - South Korean carmaker Hyundai Motor Co said on Friday it bought back 460 billion won ($422.4 million) worth of its own shares as part of its efforts to enhance shareholder value.

Hyundai said in a regulatory filing that it acquired both common and preferred shares between Nov. 12 and Feb. 3, based on the buyback plan the company announced in November. ($1 = 1,089.0600 won)

(Reporting by Se Young Lee; Editing by Anand Basu)

 
The logo of Hyundai Motor Co. is seen on a wheel of a car at a Hyundai dealership in Seoul January 22, 2015.  REUTERS/Kim Hong-Ji