DAECHANG Co.,Ltd. announces an Equity Buyback for 2,500,000 shares, for KRW 2,000 million.
November 04, 2014
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DAECHANG Co.,Ltd. (KOSE:A012800) announces a share repurchase program. Under the program, the company will repurchase up to 2,500,000 shares for up to KRW 2,000 million. Repurchases will be made from the stock exchange.
The purpose of the plan is to stabilize stock price and to enhance shareholder's value. The company will repurchase up to 250,000 shares on any one day in the program. The program will expire on December 24, 2014.
DAECHANG CO., LTD. is a Korea-based company engaged in the manufacturing of non-ferrous metal products. The Companyâs products include free cutting brass rods, forged brass rods, high-strength brass rods, dezincification resistance brasses, lead free brasses, copper anodes and others. The Companyâs products are used as raw materials for semiconductor, electrical, electronic, automobile, shipbuilding, industrial machine and other industries. The Company distributes its products within domestic market and to overseas markets. On December 26, 2013, it acquired additional shares of TAEWOO, a Korea-based company engaged in the rolling and extruding of copper. It held a 65.6% stake in the target company after the transaction.
DAECHANG CO., LTD. 