S.Korea's Kia to buy back and cancel 12.5 mln shares

Newswire

SEOUL, March 19 (Reuters) - Kia Motors Corp , South Korea's second-biggest auto maker, said on Friday it would spend about 143.1 billion won ($123.8 million) buying back and cancelling 12.5 million of its own shares. The company said in a public notice to the Korea Stock Exchange the share buy back would occur between March 23 and June 22. The 12.5 million shares are equivalent to 3.5 percent of its total outstanding shares.

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