New Delhi, Aug. 19 -- SK Hynix Inc's US-listed ADR jumped 6% in premarket trading on Wednesday, 19 August, after the memory chipmaker announced plans to buy back and cancel 40 trillion won ($29 billion) worth of treasury shares and allocate more than 50% of its free cash flow generated between 2025 and 2027 toward shareholder returns.

SK Hynix said it would buy back and cancel up to 24 million treasury shares between 20 August and 19 November. The share buyback and permanent cancellation would reduce the company's total outstanding share count, which would, in turn, increase earnings per share (EPS) and raise the proportional ownership stake of existing shareholders without requiring additional investment from them.

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