SAMICK MUSICAL INSTRUMENT Co., Ltd announces an Equity Buyback for 5,000,000 shares.
February 22, 2024 at 12:16 am EST
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SAMICK MUSICAL INSTRUMENT Co., Ltd (KOSE:A002450) announces a share repurchase program. Under the program, the company will repurchase up to 5,000,000 shares, pursuant to a contract with NH Investment & Securities Co., Ltd. The purpose of the program is to stabilize stock price and enhance shareholder value. The program will expire on May 21, 2024.
As of February 21, 2024, the company had 9,500,000 shares in treasury within scope available for dividend and had no shares in treasury under other capacities.
SAMICK MUSICAL INSTRUMENT Co., Ltd is a Korea-based company mainly engaged in the manufacture and sale of musical instruments. The Company mainly manufactures pianos, including acoustic pianos with grand and upright series, and digital pianos. It also produces other musical instruments, such as guitars, violins, bass amplifiers, cellos, flutes, trumpets, saxophones, clarinets, ocarinas, harmonicas, drums, mixers, amplifiers and others. In addition, the Company engages in the piano rental and real estate rental businesses. The Company distributes its products within domestic market and to overseas markets. On September 16, 2014, it acquired land and building located in Seoul, for rental business.
SAMICK MUSICAL INSTRUMENT CO., LTD 
