Seoulin Bioscience Co.,Ltd. announces an Equity Buyback for KRW 2,000 million worth of its shares.
June 10, 2019 at 10:33 pm
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Seoulin Bioscience Co.,Ltd. (KOSDAQ:A038070) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of its shares pursuant to a contract with Mirae Asset Daewoo Co., Ltd. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will expire on June 12, 2020. As of June 10, 2019, the company had 12,834 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase.
Seoulin Bioscience Co., Ltd is a Korea-based company engaged in the developing and manufacturing of basic equipment for bio research. The Company mainly engages in research and development of reagents, such as deoxyribonucleic acid (DNA) chips, which are used for gene therapy, clinical diagnosis, organs transplantation and biopsy; stem cells, which are used for treatment of incurable diseases, Alzheimer disease and others, and next-generation biotechnology drugs. The company supplies its products under the brand name MyLab. It also imports bio research equipment from Thermo Fisher, Affymetrix, Sarstedt and others, and markets in the domestic market. In addition, the Company engages in the real estate rental business.