Daebongls.Co.,Ltd. announces an Equity Buyback for KRW 1,000 million worth of its shares.
April 02, 2020 at 09:26 pm EDT
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Daebongls.Co.,Ltd. (KOSDAQ:A078140) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 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 stock price. The program will expire on October 5, 2020. As of April 2, 2020, the company had no shares in treasury within scope available for dividend and had no shares in treasury through other repurchase.
Daebongls. Co., Ltd. is a Korea-based company engaged in the manufacture of raw materials for pharmaceuticals and cosmetics. The Company operates its business through two main divisions: cosmetic division, which provides aloe vera gels, beta carotens, calamines, diaformers, emulgades and others for conditioners, emulsifiers, emollients, polymers, thickeners and others; pharmaceutical division, which provides almagates, bentonites, calcitriols, erdosteines, fish oil and others for antibiotics, cough products, expectorants and others. In addition, it is involved in the provision of food chemical additives, fish feedstuff and others. The Company distributes its products within domestic market and to overseas markets, including Japan, America and other Southeast Asian countries.