Dongbang Ship Machinery Co., Ltd. announces an Equity Buyback for KRW 500 million worth of its shares.
October 01, 2018 at 10:35 pm
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Dongbang Ship Machinery Co., Ltd. (KOSDAQ:A099410) announces a share repurchase program. Under the program, the company will repurchase up to KRW 500 million worth of its shares, under the contract with KB Securities Co., Ltd. The purpose of the program is to stabilize stock price and improve shareholder value. The program will be valid until April 1, 2019. As of October 1, 2018, the company had no shares in treasury under the dividend capacity and no shares in treasury under other capacities.
Dongbang Ship Machinery Co., Ltd. is a Korea-based company engaged manufacture of ship plumbing and module units, as well as terrestrial and marine plants. The Company mainly manufactures and sells module units, including fuel oil (FO) supply systems used for ship boilers; lube oil/heavy fuel oil (LO/HFO) purifier units used for main engines, as well as pipe spools consisting of steel pipe spools, stainless steel pipe spools and copper pipe spools. It also engages in the ship repairing and other businesses. The Company had one China-based wholly owned subsidiary, Dalian Dongbang Ship Machinery Co., Ltd. On January 1, 2014, it divested its ship repair business into a new wholly owned subsidiary namely Dongbang Shipyard Co.,Ltd.
DONGBANG SHIP MACHINERY CO., LTD. 
