Daesung Energy Co., Ltd. announces an Equity Buyback for KRW 5,000 million worth of its shares.
May 26, 2021 at 03:10 am EDT
Share
Daesung Energy Co., Ltd. (KOSE:A117580) announces a share repurchase program. Under the program, the company will repurchase up to KRW 5,000 million worth of its shares pursuant to a contract with KB Securities Co., Ltd. The purpose of the program is to maintain price stability and increase the shareholder value. The program will expire on December 2, 2021. As of May 26, 2021, the company had no shares in treasury within scope available for dividend and had no shares in treasury through other repurchase.
DAESUNG ENERGY CO.,LTD. is a Korea-based company mainly engaged in the provision of natural gas. The Company is supplied with natural gas from Koreas Gas Corporation and provides liquefied natural gas (LNG) for cooking, heating, cooling, industrial and business uses. It also operates natural gas stations in Daegu and Jukok. The Company also supplies heat and electricity for Jukgok District for residential, commercial and public uses. In addition, the Company is engaged in Internet shopping mall business and others.