Woongjin Co., Ltd. announces an Equity Buyback for KRW 5,000 million worth of its shares.
June 23, 2020 at 03:10 am EDT
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Woongjin Co., Ltd. (KOSE:A016880) announces a share repurchase program. Under the program, the company will repurchase up to KRW 5,000 million worth of its shares pursuant to a contract with NH Investment & Securities Co., Ltd. The purpose of the program is to improve shareholder value and to burn profits. The program will expire on December 28, 2020. As of June 22, 2020, the company had 1,401,141 shares in treasury within scope available for dividend and had 7,328 shares in treasury through other repurchases.
WOONGJIN CO., LTD., formerly Woongjin Holdings Co., Ltd. is Korea-based investment holding company engaged in the management of its subsidiaries. Its subsidiaries are Woojing Energy Co., Ltd., which manufactures ingots and wafers used for solar energy cells; WOONGJINPLAYDOCI CO., LTD., which operates theme park and recreational facilities; Tae Seung LP Co., Ltd., which provides business consulting service, as well as OCEAN SUITES Co.,Ltd, which operates hotels. It also provides information technology (IT) service.