PN Poong Nyun Co., Ltd. announces an Equity Buyback for 500,000 shares.
March 17, 2020 at 02:55 am EDT
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PN Poong Nyun Co., Ltd. (KOSDAQ:A024940) announces a share repurchase program. Under the program, the company will repurchase up to 500,000 shares. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will expire on June 17, 2020. As of March 16, 2020, the company had 601,320 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase.
PNPOONGNYUN CO., LTD is a Korea-based company mainly engaged in the manufacture of pressure cookers. The Company produces handmade, aluminum and stainless pressure cookers, pots, pans, electric kitchen appliances including multi mini mixers, electric toasters, electrical boiled rice containers, electric ovens and others, as well as other kitchen tools including bowls and kettles. Its products are for camping and household uses. The Company also involves in the real estate leasing business. The Company distributes its products within domestic market and to overseas markets, including Japan, America, Germany and England.