South Korean shipbuilding giant Hyundai Heavy Industries Holdings is to cancel KRW 129bn ($109m) of its shares as it tries to improve investor value amid falling profit.
The move is a first for the holding company of the Hyundai Heavy Industries, Hyundai Mipo Dockyard and Hyundai Samho Heavy Industries.
It is buying back 488,000 shares, or 3% of its capital, up to 6 May.
