ABCO Electronics Co. Ltd. announces an Equity Buyback in the amount of KRW1000 mm
June 04, 2012
Share
The Board of Directors of ABCO Electronics Co. Ltd. (KOSE:A036010) authorized a share repurchase program on June 5, 2012. Under the program, the company will repurchase up to KRW 1 billion worth of stock pursuant to a contract with Hana Daetoo Securities Co., Ltd. The purpose behind the program is to stabilize the stock price and to enhance shareholder value. Repurchases will commence on June 5, 2012 and will continue until December 4, 2012. As of June 5, 2012, the company has 505,000 shares under direct ownership of treasury stock. Hana Daetoo Securities Co., Ltd. acted as an investment broker to the company.
ABCO ELECTRONICS CO., LTD is a Korea-based company engaged in the manufacturing of inductors and resistors. The Company's products consists of chip inductors, including signal inductors, common mode filters and surface mounted device (SMD) power inductors; lead inductors, including lead power inductors and others, as well as resistors, including chip resistors, lead resistors and others. The products are mainly used in portable information communication devices such as mobile phones, notebook personal computers (PCs) and others; digital audio and visual (AV) equipment such as light-emitting diode (LED), liquid crystal display (LCD), plasma display panel (PDP) televisions, digital cameras and others, as well as multi-media products and household appliances.
ABCO ELECTRONICS CO., LTD. 
