Samick Musical Instruments Co., Ltd. announces an Equity Buyback for 2,000,000 shares.
November 05, 2018 at 01:08 am
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Samick Musical Instruments Co., Ltd. (KOSE:A002450) announces a share repurchase program. Under the program, the company will repurchase up to 2,000,000 shares for KRW 3,310 million. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will expire on February 5, 2019. As of November 5, 2018, the company had 5,000,000,000 shares in treasury within scope available for dividend and had 0 shares in treasury through other repurchase.
SAMICK MUSICAL INSTRUMENT Co., Ltd is a Korea-based company mainly engaged in the manufacture and sale of musical instruments. The Company mainly manufactures pianos, including acoustic pianos with grand and upright series, and digital pianos. It also produces other musical instruments, such as guitars, violins, bass amplifiers, cellos, flutes, trumpets, saxophones, clarinets, ocarinas, harmonicas, drums, mixers, amplifiers and others. In addition, the Company engages in the piano rental and real estate rental businesses. The Company distributes its products within domestic market and to overseas markets. On September 16, 2014, it acquired land and building located in Seoul, for rental business.
SAMICK MUSICAL INSTRUMENT CO., LTD 