KHVATEC Co., Ltd. announces an Equity Buyback for 250,000 shares.
March 20, 2017 at 04:01 am
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KHVATEC Co., Ltd. (KOSDAQ:A060720) announces a share repurchase program. Under the program, the company will repurchase up to 250,000 shares for a total of KRW 3,862.5 million, which is based on the closing price of KRW 15,450 per share on March 17, 2017. The actual buyback amount may change upon changes in the stock price. The company will repurchase its shares directly through Korea Securities Dealers Automated Quotation market. The purpose of the repurchase program is to improve shareholder value through share price stabilization. The maximum number of shares that the company may repurchase on any day is 47,217 shares. The repurchase program will continue until June 20, 2017. As of March 19, 2017, the company had 745,133 shares in treasury within scope available for dividend and had 4,867 shares in treasury through other repurchase.
KH VATEC Co., LTD is a Korea-based company principally engaged in the manufacture and sale of aluminum casting products. The Company produces products including aluminum casting, magnesium casting, zinc casting and others. The Company also manufactures flexible printed circuit boards (FPCBs), which are used in mobile phones, as well as light emitting diode (LED) lighting products such as floodlights and street lights, among others.