MediPal Holdings Corporation announces an Equity Buyback for 5,202,900 shares, representing 2.3% for ¥10,000 million.
September 21, 2017 at 03:30 am EDT
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MediPal Holdings Corporation (TSE:7459) announces a share repurchase program. Under the program, the company will repurchase 5,202,900 shares, representing 2.3% of the outstanding shares, at ¥1,922 per share for ¥10,000 million. The purpose of the program is to implement a flexible capital policy in response to changes in the business environment, to mitigate the short-term impact on the share supply and demand following the issuance of bonds with warrants, and to improve the terms of the issuance. As of August 31, 2017, the company had 226,438,028 shares outstanding and 18,086,468 shares in treasury.
MEDIPAL HOLDINGS CORPORATION engages in the wholesale of pharmaceutical products, cosmetics and daily miscellaneous goods. The Company operates in three segments. The Ethical Pharmaceutical Wholesale segment is involved in the wholesale of pharmaceutical products, medical equipment and test reagents, the distribution and planning of specialty drugs, the construction of medical material database and others. The Cosmetics, Daily Product and General Medicine Wholesale segment is engaged in the wholesale of cosmetics, daily miscellaneous goods and general pharmaceuticals. The Veterinary Medicine and Food Processing Raw Materials Wholesale segment is engaged in the wholesale of veterinary products, food additives and food raw materials. The Company is also involved in the provision of cleaning services, the management and operation of logistics centers, the provision of manpower dispatching services and others.
MEDIPAL HOLDINGS CORPORATION 
