Chips&Media, Inc. announces an Equity Buyback for KRW 3,000 million worth of its shares.
April 24, 2024 at 01:46 am
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Chips&Media, Inc. (KOSDAQ:A094360) announces a share repurchase program. Under the program, the company will repurchase up to KRW 3,000 million worth of its shares pursuant to a trust agreement with KOREA INVESTMENT & SECURITIES CO. LTD. The purpose behind the program is to stabilize the stock price and to improve shareholder value.
The program will continue until October 25, 2024. As of April 23, 2024, the company had 0 common shares in treasury through buyback within dividend capacity and 0 shares in treasury through other acquisitions.
Chips&Media, Inc. a Korea-based company principally engaged in the development of system software. The Company mainly operates its business through provision of video codec intellectual property (IP) solutions for multimedia devices. The Companyâs video codec IP solutions cover the full line-up of video standards such as motion picture experts group (MPEG)-2, MPEG-4, H.263, H.264/advanced video coding (AVC) and VC-1 from common image format (CIF) to high definition (HD) resolution. Its IP solutions are applied in the multimedia system on chip (SoC) as well as video/image. Its products consist of BODA video cores decode multiple format, CODA cores and others, which are applied in three dimension (3D) digital televisions (TVs), high-end set top boxes, digital camcorders, smart TVs, smart phones, tablets, digital video recorders (DVRs) and others.