Dong-A Hwa Sung Co.,Ltd. announces an Equity Buyback for KRW 2,000 million worth of its shares.
March 19, 2020 at 10:15 pm EDT
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Dong-A Hwa Sung Co.,Ltd. (KOSDAQ:A041930) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of own shares pursuant to a contract with DB Financial Investment Co., Ltd. The purpose behind the program is to improve shareholder value and to stabilize stock price. The repurchase program will expire on September 21, 2020. As of March 20, 2020, the company had 1,148,701 treasury shares within scope available for dividend and no shares in treasury through other repurchase.
Dong-A Hwa Sung Co., Ltd. is a Korea-based company mainly engaged in the manufacture and sale of rubber products used for automobiles and drum washing machines. The Company mainly operates in two divisions: automobile and home appliance. Its automobile division provides gaskets for preventing oil escaping from fixed auto parts, intake hose used to send clean air to inlet manifolds and absorb vibration in automobiles, as well as general rubber products, among others. Its home appliance division provides door gaskets for preventing vibration and water leaking of washing machines, general rubber products, and plastic products used for television cabinets, among others. The Companyâs main clients are Hyundai Motors, GM Korea, Ssangyong Motor, Daelim Motor and others.
DONG-A HWA SUNG CO.,LTD. 
