Pavonine Co., Ltd. (KOSDAQ:A177830) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,500 million worth of its shares pursuant to a contract with Shinhan Investment & Securities. The purpose of the program is to improve shareholder value and to stabilize stock price.

The program will expire on January 21, 2023. As of July 20, 2022, the company had 1,356,175 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase.