Korea Parts & Fasteners Co., Ltd. announces an Equity Buyback for 216,450 shares.
May 10, 2017 at 10:10 pm 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 216,450 shares for a total of KRW 1,000 million, which is based on the closing price of the share on May 10, 2017. The actual buyback amount may change upon changes in the stock price. The company will repurchase its shares through KOSDAQ. The purpose of the share repurchase program is to improve shareholder value through stock price stabilization. The maximum number of shares that the company may repurchase on any day is 21,645 shares. The share repurchase program is valid until August 11, 2017. As of May 10, 2017, the company had 711,964 shares in treasury within scope available for dividend and had 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 
