Meta Biomed Co., Ltd. announces an Equity Buyback for KRW 500 million worth of its shares.
March 16, 2020 at 09:58 pm EDT
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Meta Biomed Co., Ltd. (KOSDAQ:A059210) announces a share repurchase program. Under the program, the company will repurchase up to KRW 500 million worth of its common stock, pursuant to a contract with KB Securities. The purpose of the program is to stabilize the stock prices and enhance the shareholders’ value. The program will end on March 16, 2022. As of March 16, 2020, the company had 675,043 shares in treasury within the scope available for dividend and no shares in treasury through other repurchase.
Meta Biomed Co., Ltd. is a Korea-based company engaged in the manufacture of medical materials and equipment for biotechnology and dental areas. The Company mainly operates its business through three divisions: suture material division, dental division and bone material division. Its suture material division provides suture materials, such as polyglycolic acid (PGA) synthetic absorbable braids, polyglycolic acid-co-lactic acid (PGLA) absorbable braids, polydioxanone (PDO) synthetic absorbable monofilaments, polyglycolide-co-epsilon-caprolactone (PGCL) synthetic absorbable monofilaments and others. Its dental division provides dental materials and equipment, such as gutta percha cordless obturation systems, electronic apex locators, taper points, root canal sealers, root canal filling materials and others. Its bone materials division provides bone graft substitutes. It also distributes dental-related products.