Mirae Asset plans W1.4tr share cancellation despite Q3 loss

What happened: Mirae Asset Securities said it will cancel about 1.4 trillion won of treasury shares under a new shareholder return policy, even as valuation losses on its SpaceX investment pushed it to a third quarter net loss. Key numbers: 65 million common shares to be canceled, about 60 percent of treasury holdings, after next Why it matters: The company tied the buyback to its 2027-2029 shareholder return policy and a goal of canceling at least 100 million treasury shares by 2030, and said overseas profits would be repatriated as dividends to fund returns despite earnings volatility.

Mirae Asset Securities said it will cancel about 1.4 trillion won of treasury shares under a new shareholder return policy, even as valuation losses on its SpaceX investment pushed it to a third quarter net loss.

The company tied the buyback to its 2027-2029 shareholder return policy and a goal of canceling at least 100 million treasury shares by 2030, and said overseas profits would be repatriated as dividends to fund returns despite earnings volatility.