RedcapTour Co., Ltd. announces an Equity Buyback for KRW 3,000 million worth of its shares.
March 16, 2020 at 02:16 am EDT
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RedcapTour Co., Ltd. (KOSDAQ:A038390) announces a share repurchase program. Under the program, the company will repurchase up to KRW 3,000 million worth of own shares pursuant to a contract with Daishin Securities Co., Ltd. The purpose behind the program is to stabilize stock price. The repurchase program will expire on March 16, 2021. As of March 15, 2020, the company had no treasury shares within scope available for dividend and no shares in treasury through other repurchase.
RedcapTour Co., Ltd. is a Korea-based company mainly engaged in the travel and car rental businesses. The Company operates its business through two divisions: car rental business division and travel business division. Its car rental business division provides short-term and long-term vehicle rental and sale of used vehicles services. Its travel business division is engaged in the provision of travel arrangement services, such as honeymoon, overseas travels, backpacking travels, luxury cruises travels, free individual travels and business travels. It also markets airline tickets.