Sobal Corporation announces an Equity Buyback for 300,000 shares, representing 3.67% for ¥450 million.
April 10, 2019 at 02:30 am EDT
Sobal Corporation (JASDAQ:2186) announces a share repurchase program. Under the program, the company will repurchase up to 300,000 shares, representing 3.67% of its share capital, for ¥450 million. The company will repurchase its shares in order to enhance returns to shareholders, along with improving capital efficiency and implementing a flexible capital policy in response to changes in the business environment. The share repurchase program will run until October 10, 2019. As of February 28, 2019, the company had 8,167,323 shares outstanding (excluding treasury shares) and 175 shares in treasury.