S&T Corporation announces an Equity Buyback for KRW 5,000 million worth of its shares.
September 01, 2020 at 02:56 am EDT
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S&T Corporation (KOSE:A100840) announces a share repurchase program. Under the program, the company will repurchase up to KRW 5,000 million worth of own shares pursuant to a contract with KB Securities Co., Ltd. The purpose behind the program is to improve shareholder value and to stabilize stock price. The repurchase program will expire on February 28, 2021. As of August 31, 2020, the company had 662,344 treasury shares within scope available for dividend and 2,294 shares in treasury through other repurchase.
SNTEnergy Co Ltd, formerly S&T Corp, is a Korea-based company engaged in the manufacture and sale of heat exchangers. The Company manufactures heat exchangers, which are used for petrochemical plants, oil refining plants, gas plants and others; heat recovery steam generators (HRSGs), which generate steam for generation of steam turbines with use of the waste heat; steam surface condensers; DeNOx facilities, which eliminate the nitrogen oxide (NOx) materials, generated from combustion of nitrogen component in fuels and air, and others. The Company distributes its products within domestic market and to overseas markets. On November 8, 2013, S&T Dynamics Co., Ltd. transferred its entire 50.66% stake of the Company to S&T MOTIV Co., Ltd. After that, S&T MOTIV Co., Ltd became the Company's top shareholder.
SNT ENERGY CO., LTD. 