Chokwang Paint Co., Ltd. announces an Equity Buyback for KRW 2,000 million worth of its shares.
March 23, 2020 at 10:34 pm
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Chokwang Paint Co., Ltd. (KOSE:A004910) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of its shares pursuant to a contract with Mirae Asset Daewoo Co., Ltd. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will expire on September 24, 2020. As of March 23, 2020, the company had 2,300,000 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase.
Chokwang Paint Ltd. is a Korea-based company engaged in the manufacture and marketing of paint products. The Companyâs products consist of architectural paints, including roof and state paints, floor paints, wood and steel paints, eco-friendly paints, as well as paints for exterior walls, interior walls, ceilings and others; industrial paints, including heat-dry paints, natural-dry paints, fluorine paints, water-based paints, special patterning paints and others; carpentry paints, including, spray paints, water-soluble paints and other functional paints, and ultra violet and electron beam (UV/EB) paints, powdered paints, plastic paints and auto body repairing paints, as well as glues and adhesives.