Changhae Ethanol Co., Ltd. announces an Equity Buyback for KRW 1,500 million worth of its shares.
March 18, 2020 at 02:41 am EDT
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Changhae Ethanol Co., Ltd. (KOSDAQ:A004650) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,500 million worth of shares pursuant a contract with NH Investment & Securities Co., Ltd. The purpose of the program is to stabilize share price and enhance shareholder's value. The share repurchase program is valid until September 17, 2020. As of March 17, 2020, the company had 708,825 treasury shares within scope available for dividend and 746,764 shares in treasury stock through other buyback.
Changhae Ethanol Co Ltd is a Korea-based company primarily engaged in the manufacture and sale of alcohol. The Company operates business through four segments. The Alcohol Business segment is mainly engaged in the manufacture and sale of alcohol such as fermentation alcohol, purified alcohol and other alcohol. The Energy Business segment is primarily engaged in provision of steam supply. The Engineering segment is mainly engaged in the provision of construction services. The Trading Business segment is principally engaged in the sale of tapioca flour.
CHANGHAE ETHANOL CO., LTD. 
