Jeil Technos Co.,Ltd announces an Equity Buyback for KRW 1,500 million worth of its shares.
June 27, 2019 at 09:09 pm
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Jeil Technos Co.,Ltd (KOSDAQ:A038010) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,500 million of its shares under the contract with Samsung Securities Co. Ltd. The purpose of share repurchases is to improve shareholder value and to stabilize stock price. The program is valid till December 30, 2019. As of June 27, 2019, the company had 333,334 shares in treasury within scope available for dividend and had 0 shares in treasury through other repurchase.
JEIL TECHNOS.CO.,LTD is a Korea-based company engaged in the manufacturing of steel products for construction industry. The Company operates its business under three divisions: deck plate, shipbuilding and plant. The deck plate division provides truss decks, super light weight air balled flat (SLAF) plate decks and other compound decks under the brand names of N.T. DECK, KEM DECK and others, which are mainly used as steel-frame structure materials. The shipbuilding division provides steel processing services such as shot blast and steel cutting services, which are applied to steel plates used in bridges and ships. The plant division provides structural metal plates for used plant construction.