Dae Young Packaging Co., Ltd. announces an Equity Buyback for 5,285,000 shares.
April 14, 2017 at 02:46 am
Share
Dae Young Packaging Co., Ltd. (KOSE:A014160) announces a share repurchase program. Under the program, the company will repurchase up to 5,285,000 common shares. The estimated price for repurchase would amount to KRW 4,999.61 million, which is based on the market close price of April 13, 2017, of KRW 946 per share. The shares will be repurchased on the stock exchange. The purpose of the program is to stabilize the share prices and enhance shareholder's value. The maximum number of shares that may be repurchased in a day is 528,500 shares. The program will expire on July 14, 2017. As of April 13, 2017, the company had no common shares in treasury under the dividend capacity and no common shares in treasury under other capacities.
DAE YOUNG Packaging.Co., Ltd. is a Korea-based company principally engaged in the manufacturing and distributing of corrugated cardboards and boxes. The Company's product portfolio consists of base paper of corrugated cardboards, such as middle paper, reverse side paper and surface paper; corrugated cardboards and boxes, including single faced corrugated fiberboards, double faced corrugated fiberboards, double wall corrugated fiberboards, triple wall corrugated fiberboards and others, which are used as buffer materials, packing boxes and others, and byproducts. The Company distributes its products within domestic market and to overseas markets.
DAE YOUNG PACKAGING.CO., LTD. 
