ABCO Electronics Co. Ltd.'s Equity Buyback in the amount of KRW1000 mm has expired
June 03, 2013 at 12:00 am EDT
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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 4, 2012, the company has 505,000 shares under direct ownership of treasury stock.
On December 4, 2012, the company announced that it has extended the program till June 3, 2013.
As of September 6, 2012, the company has repurchased 76,840 shares for KRW 319.37 million. Hana Daetoo Securities Co., Ltd. acted as an investment broker to the company.
ABCO Electronics Co. Ltd.'s share repurchase program expired on June 3, 2013.
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. 
