Kginicis Co.,Ltd announces an Equity Buyback for 1,000,000 shares, for KRW 11,750 million.
May 20, 2019 at 02:00 am EDT
Share
Kginicis Co.,Ltd (KOSDAQ:A035600) announces a share repurchase program. Under the program, the company will repurchase up to 1,000,000 shares, for KRW 11,750 million. The purpose behind the program is to improve shareholder value and to stabilize stock price. The repurchase program will expire on August 20, 2019. As of May 19, 2019, the company had 285,946 treasury shares within scope available for dividend and no shares in treasury through other repurchase.
KGINICIS CO.,LTD is a Korea-based company engaged in the provision of online payment gateway (PG) services. The Company provides secure PG solutions through cryptographic authentication, data protection and electronic signature technologies. The Company provides payment services under the brand name of INIpay. The Company offers a comprehensive line of payment services through credit cards, debt cards, purchasing cards, electronic fund transfer processing, gift cards, loyalty cards, stored value cards, point-of-sale equipment, merchant accounting and others. It has partnerships with online shopping malls, telecommunication carriers, public institutions and others.
KGINICIS CO.,LTD 
