Eagon Industrial Co., Ltd. announces an Equity Buyback for KRW 2,000 million worth of its shares.
November 08, 2017 at 02:10 am EST
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Eagon Industrial Co., Ltd. (KOSE:A008250) announces a share repurchase program. Under the program, the company will repurchase KRW 2,000 million worth of its shares, pursuant to a contract with Mirae Asset Daewoo. Co., Ltd. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will expire on November 8, 2018. As of November 8, 2017, the company has 5,000 shares in treasury within scope available for dividend and had no shares in treasury under other capacities.
EAGON INDUSTRIAL CO.,LTD. is a Korea-based company principally engaged in the manufacture of plywood products. The Company operates in three segments: lumber, plantation and energy. The lumber segment produces plywood and building materials such as plywood floorings, structural wood, engineering wood, boards and others used for furniture as well as construction interior and exterior materials. The plantation segment provides hardwood and veneers through its subsidiaries in Solomon Islands. The energy segment engages in the steam supply and power generation business providing vapor and electricity through its subsidiary Eagon Energy Co., Ltd. It also produces and markets wood pallets. The Company supplies its products within domestic market and to overseas markets.