Avatec Co., Ltd. announces an Equity Buyback for 800,000 shares, for KRW 6,480 million.
July 11, 2019 at 04:22 am
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Avatec Co., Ltd. (KOSDAQ:A149950) announces a share repurchase program. Under the program, the company will repurchase up to 800,000 shares for KRW 6,480 million. The shares will be repurchased at a price of KRW 8,100 per share. The purpose of the buyback is to improve shareholder value and to have treasury stock ready in case of stock option exercise. The program will be valid up to July 31, 2019. As of July 10, 2019, the company had 777,860 shares in treasury within scope available for dividend and has no shares in treasury through other repurchase.
AVATEC CO., LTD. is a Korea-based company mainly engaged in the manufacture of electronic components. The Company manufactures glass slimming and indium tin oxide (ITO) coating products, as well as display filters. The Company also provides surface treatment products. The Company's products are used for mobile phones, plasma display panels (PDPs), televisions (TVs), household appliances, tablet personal computers (PCs) and others. The Company distributes its products with domestic market and to overseas markets.