Dongil Metal Co., Ltd. announces an Equity Buyback for KRW 1,000 million worth of its shares.
March 07, 2021 at 11:33 pm EST
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Dongil Metal Co., Ltd. (KOSDAQ:A109860) 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 NH Investment & Securities Co., Ltd. The purpose of the program is to improve shareholder value and stabilize stock prices. The program will expire on March 7, 2022. As of March 7, 2021, the company had 563,000 shares in treasury within the scope available for dividend and had 0 shares in treasury through other repurchases.
DONGIL METAL CO., LTD. is a Korea-based company engaged in the manufacture of steel casting products used for construction machineries. The Company's product portfolio consists of excavator components and crawler crane components. Its excavator components include idler assemblies, track spring assemblies, rear bearings, center bearings and boom bearings. Its crawler crane components include track shoe assemblies, boom joints, tumblers and idlers. The Company distributes its products within domestic market and to overseas markets.