Seoul Broadcasting System announces an Equity Buyback for KRW 6,900 million worth of its shares.
October 12, 2016 at 03:32 am EDT
Seoul Broadcasting System (KOSE:A034120) announces a share repurchase program. Under the program, the company will repurchase up to KRW 6,900 million of its shares pursuant to a trust contract with Korea Investment & Securities. Co., Ltd. The purpose of the share repurchase program is to improve shareholder value and to stabilize stock price. The share repurchase program is valid until October 31, 2017. As of October 11, 2016, the company had 322,666 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase.