Korea Parts & Fasteners Co.,Ltd announces an Equity Buyback for KRW 1,000 million worth of its shares.
March 24, 2020 at 02:29 am EDT
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Korea Parts & Fasteners Co.,Ltd (KOSDAQ:A024880) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 million worth of its own shares pursuant to a contract with Daishin Securities Co., Ltd. The purpose behind the program is to improve shareholder value and to stabilize stock price. The repurchase program will expire on September 23, 2020. As of March 23, 2020, the company had 1,123,516 treasury shares within scope available for dividend and no shares in treasury through other repurchase.
Korea Parts & Fasteners is a Korea-based company engaged in the manufacturing and distribution of bolts, nuts and other forging products. The Companyâs products portfolio consists of high torque (H/T) bolts, tensile control (T/C) bolts, structural bolts and couplings, which are used in construction works; heavy hex bolts, heavy hex nuts and stud bolts, which are used in petrochemical plants; flange nuts, flange screws, castle nuts, cylinder head bolts and others, which are used in heavy equipment; bearing inner and outer races, gear blanks, pinion gears and others, which are used for automobiles, as well as foundation anchor bolts, barrel nuts and others, which are used in wind power plants. The Company also involves in the building leasing business.
KOREA PARTS & FASTENERS CO.,LTD 
