Daebo Magnetic Co.,Ltd. announces an Equity Buyback for KRW 3,000 million worth of its shares.
March 19, 2020 at 02:16 am EDT
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Daebo Magnetic Co.,Ltd. (KOSDAQ:A290670) 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 trust contract with Korea Investment & Securities Co., Ltd. The purpose of the program is to enhance the shareholder value through stabilization of stock price. The program will expire on September 18, 2020. As of March 18, 2020, the company had 100,039 shares in treasury within scope available for dividend and no shares held in treasury under other capacities.
DAEBO MAGNETIC CO.,LTD is a Korea-based company engaged in the manufacturing and distribution of magnet and magnet application equipments. The Company principally manufactures and distributes electro magnetic filters (EMFs). It is divided into dry and wet EMFs, which is used for removal of trace iron debris in the secondary battery materials. The Company also manufactures and sells magnetic separators (MSs), including suspended MSs, grate MSs, wet drum MSs and others. In addition, the Company produces and sells non-ferrous MSs, metal detectors, transport magnets, as well as other applications.
DAEBO MAGNETIC CO.,LTD. 
