Korea Parts & Fasteners Co.,Ltd announces an Equity Buyback for KRW 1,000 million worth of its shares.
November 22, 2018 at 02:22 am EST
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Korea Parts & Fasteners Co.,Ltd (KOSDAQ:A024880) announces a share repurchase program. Under the program, the company will repurchase its own shares for KRW 1,000 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 May 22, 2019. As of November 21, 2018, the company had 928,414 shares in treasury within scope available for dividend and had 0 shares in treasury through other repurchases.
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 
