Top Engineering Co., Ltd announces an Equity Buyback for 142,247 shares, for KRW 1,000 million.
May 22, 2017 at 02:20 am EDT
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Top Engineering Co. Ltd. (KOSDAQ:A065130) announces a share repurchase program. Under the program, the company will repurchase up to 142,247 shares for a total of KRW 1,000 million, which is based on the closing price of KRW 7,030 on May 19, 2017. The company will repurchase its shares on market through Korea Securities Dealers Automated Quotation. The purpose of the share repurchase program is to stabilize the share price and to enhance shareholder value. The maximum number of shares that can be repurchased on any day is 37,187 shares. The share repurchase program is valid until June 22, 2017. As of May 22, 2017, the company had 330,186 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase.
Top Engineering Co., Ltd. is a Korea-based company engaged in the manufacture of semiconductor and display equipment. It provides liquid crystal display (LCD) equipment including liquid crystal (LC) dispensers, sealant (SEAL) dispensers, gas cutting systems (GCSs), array testers, in-line systems and wet cleaning equipment; light emitting diode (LED) equipment including inductively coupled plasma (ICP) etchers, low temperature plasma chemical vapor depositions (CVDs) and LED dispensers; semiconductor equipment including flip chip bonders, potting systems and marking systems; organic light emitting diode (OLED) equipment, such as OLED seal dispensers, and central chemical supply systems. On December 12, 2013, it sold a certain shares of IM Tech Inc. On March 5, 2014, it merged with a wholly owned subsidiary, engaged in the manufacture and distribution of displayer and semiconductor testers.
TOP ENGINEERING CO., LTD 
