Philoptics Co. Ltd. announces an Equity Buyback for KRW 6,000 million worth of its shares.
September 01, 2017 at 03:30 am
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Philoptics Co. Ltd. (KOSDAQ:A161580) announces a share repurchase program. Under the program, the company will repurchase up to KRW 3,000 million worth of its shares each pursuant to a contracts with Samsung Securities Co. Ltd. and Shinhan Investment Corp. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will expire on September 3, 2018. As of August 31, 2017, the company had no shares in treasury within scope available for dividend and had no shares in treasury through other repurchase.
PHILOPTICS CO.,LTD. is a Korea-based company principally engaged in the manufacture and distribution of organic light emitting diodes (OLED) laser equipment. The OLED laser equipment are used in OLED displaying process, which include laser lift-off machines, cell cutting and shape cutting machines. The Company also has two operating segments. The Secondary Cell Laser Equipment Segment, which is engaged in the production of notching modules. And the Stepper and Other Equipment Segment, which is engaged in the manufacture of exposure machines which are mainly used for printed circuit boards (PCBs) and touch screen panels (TSPs). The Company is also involved in providing the equipment amending service, and the sales of relevant equipment.