Nuri Telecom Co., Ltd. announces an Equity Buyback for KRW 1,000 million worth of its shares.
August 07, 2019 at 02:35 am EDT
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Nuri Telecom Co., Ltd. (KOSDAQ:A040160) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 million worth of its shares pursuant to a contract with Daishin Securities Co., Ltd. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will expire on February 6, 2020. As of August 6, 2019, the company had 336,283 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase.
NuriFlex Co Ltd, formerly Nuri Telecom Co Ltd, is a Korea-based company principally engaged in the advanced metering infrastructure (AMI) business. The Company operates its business through four segments. The Electric Power Internet of Things (IoT) Business segment is engaged in the development and supply of AMI solutions. The Public IoT Business segment is engaged in green new deals business such as microgrid, energy efficiency and smart city, among others. The Industrial IoT Business segment provides barcode and radio frequency identification (RFID) system solutions related to logistics automation systems. The Other segment provides network application system (NAS) center.