BioSmart Co.,Ltd. announces an Equity Buyback for KRW 3,000 million worth of its shares.
February 25, 2020 at 02:06 am EST
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BioSmart Co.,Ltd. (KOSDAQ:A038460) announces a share repurchase program. Under the program, the company will repurchase up to KRW 3,000 million worth of its shares pursuant to a contract with Mirae Asset Daewoo Co., Ltd. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will expire on February 25, 2021. As of February 24, 2020, the company had no shares in treasury within scope available for dividend and had 1,293 shares in treasury through other repurchase.
BioSmart Co., Ltd. is a Korea-based company mainly engaged in credit card business. The Company produces and issues domestic credit cards and electronic money systems under the brand name BS, and provides credit card issuing services, mailing systems, issuing equipment such as embossers and transcribers, and sending machines such as card sending machines and mail sending machines. Its card category includes magnetic stripe cards, integrated circuit (IC) cards, smart cards, combination cards, radio frequency (RF) cards, global systems for mobile communications (GSM) cards and others. The Company also involves in the manufacture of biological chips, cosmetics and health food through its affiliates.
BIOSMART CO.,LTD. 
