Smec Co.,Ltd announces an Equity Buyback for KRW 1,000 million worth of its shares.
February 27, 2020 at 02:04 am
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Smec Co.,Ltd (KOSDAQ:A099440) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 million worth of its shares pursuant to a contract with Shinhan Investment. The purpose of the share repurchases is to improve the shareholder value and stabilize the stock price. The program is valid till August 26, 2020. As of February 26, 2020, the company had 1,177,093 shares in treasury within scope available for dividend and had 1,250,051 shares in treasury through other repurchase.
SMEC CO., LTD is a Korea-based company mainly engaged in the machinery and communication industry businesses. The Companyâs machinery business is involved in the production of computer number control (CNC) lathes, machine centers, robots, lasers, catalogue archives, assemblies and original equipment manufacturer (OEM) products under the brand name LCV, PL and others. Its communication business is involved in the provision of trunk gateways, media gateways, signaling gateways, session border controllers, wireless transmission control protocols (TCPs), and maintenance services under the brand names NGTG, NGMG, NGSG, NGSBC and WTCP. The Company also provides repair and maintenance services for communication equipment. It distributes its products within domestic market and to overseas markets.
SMEC CO.,LTD 
