Chips&Media, Inc. announces an Equity Buyback for KRW 2,000 million worth of its shares.
December 04, 2022 at 08:10 pm EST
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Chips&Media, Inc. (KOSDAQ:A094360) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of its shares pursuant to a contract with Korea Investment & Securities Co., Ltd. The purpose of the program is to improve shareholder value and to stabilize the stock price. The program will expire on June 5, 2023.
As of December 4, 2022, the company had 166,640 shares in treasury within scope available for dividend and had 1,874 shares in treasury through other acquisitions.
Chips&Media, Inc. a Korea-based company principally engaged in the development of system software. The Company mainly operates its business through provision of video codec intellectual property (IP) solutions for multimedia devices. The Companyâs video codec IP solutions cover the full line-up of video standards such as motion picture experts group (MPEG)-2, MPEG-4, H.263, H.264/advanced video coding (AVC) and VC-1 from common image format (CIF) to high definition (HD) resolution. Its IP solutions are applied in the multimedia system on chip (SoC) as well as video/image. Its products consist of BODA video cores decode multiple format, CODA cores and others, which are applied in three dimension (3D) digital televisions (TVs), high-end set top boxes, digital camcorders, smart TVs, smart phones, tablets, digital video recorders (DVRs) and others.
CHIPS&MEDIA, INC. 
