Winix Inc. announces an Equity Buyback for KRW 5,000 million worth of its shares.
January 08, 2021 at 01:06 am
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Winix Inc. (KOSDAQ:A044340) announces a share repurchase program. Under the program, the company will repurchase up to KRW 5,000 million worth of its shares pursuant to a contract with Samsung Securities Co. Ltd. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will expire on January 7, 2022. As of January 7, 2021, the company had 1,276,711 shares in treasury within scope available for dividend and had 478,235 shares in treasury through other repurchases.
WINIX INC. is a Korea-based company engaged in the manufacturing of electric home appliances together with its subsidiaries. The Company produces evaporators, condensers, air conditioner components, cold and hot water purifiers, fan heaters, dehumidifiers, water dispensers, air coolers, air cleaners, air purifiers, refrigerator decoration chassis and other components. It also provides materials such as resins and fuses. The Company has partnership with Hi Mart, G Market, CJ Shopping, LG Electronics, Samsung Electronics and others. It distributes its products within domestic market and to overseas markets such as Japan and the United States. On August 1, 2014, it merged with WINIMAX.CO.,LTD, which is engaged in the manufacturing and sales of electronic goods. After that, Winix is survived and WINIMAX is dissolved.