Hyundai Development Company Engineering & Construction announces an Equity Buyback for 2,000,000 shares.
January 09, 2017
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Hyundai Development Company Engineering & Construction (KOSE:A012630) announces a share repurchase program. Under the program, the company will repurchase up to 2,000,000 shares for KRW 92,400 million which is based on the closing price of KRW 46,200 per share as on January 9, 2017. The company will repurchase the shares through the market. The purpose of the program is to improve shareholders’ value and to stabilize the stock price. The actual buyback amount may change based on the changes in stock price in the future. The maximum number of shares that the company may repurchase on any day is 200,000 shares. The program is valid until April 11, 2017. As of January 9, 2017, the company had 1,800,000 shares in treasury within scope available for dividend and had nil shares in treasury under other capacities.
HDC Holdings Co Ltd is a Korea-based company mainly engaged in the manufacture and sale of chemical products. The Company operates its business through six segments. The Construction segment is involved in the construction of residential buildings, public institutions and private companies, social infrastructures such as roads, harbors and railroads. The Petrochemical segment is involved in the production and sale of chemical products such as industrial pipes, packaging materials for food and life, as well as construction materials. The Musical Instrument segment produces and sells musical instruments such as pianos. The Distribution segment is involved in the operation of department stores and complex shopping malls, as well as real estate leasing. The Holding segment is engaged in the businesses of management consulting and building rental. The Other segment is engaged in building management, the operation of hotels and professional soccer show business.
HDC HOLDINGS CO.,LTD 
