GungHo Online Entertainment, Inc. announces an Equity Buyback for 2,800,000 shares, representing 4.27% for ?5,000 million.
November 12, 2021 at 01:00 am EST
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GungHo Online Entertainment, Inc. (TSE:3765) announces a share repurchase program. Under the program, the company will repurchase up to 2,800,000 shares, representing 4.27% of its issued share capital for ?5,000 million. The purpose of the program is to acquire and cancel treasury stock in order to improve shareholder interests by implementing agile capital policies and improving capital efficiency in response to changes in the business environment. The program is valid till December 23, 2021. As of September 30, 2021, the company had 65,587,304 shares issued (excluding treasury stock) and more than 29,623,012 shares in treasury.
GungHo Online Entertainment, Inc. is a Japan-based company mainly engaged in the planning, development and operation of online games. The Company operates in two business segments. The Personal Computer (PC) Online segment is engaged in the distribution and operation of online games, under the license of online games designed by other companies for the Company's PCs. The Mobile Consumer segment is engaged in the planning, development and delivery of smart phone games, as well as the planning, production and sale of software for home video game machines and portable game machines.