CMC Corporation announces an Equity Buyback for 200,000 shares, representing 2.82% for ¥300 million.
April 01, 2020 at 07:30 am IST
CMC Corporation (JASDAQ:2185) announces a share repurchase program. Under the program, the company will repurchase 200,000 shares, representing 2.82% of the outstanding shares for ¥300 million. The purpose of the program is to improve shareholder returns and capital efficiency, and to implement a flexible capital policy in response to changes in the business environment. The program will run until June 30, 2020. As of March 31, 2020, the company had 7,097,211 shares outstanding and 84,789 shares in treasury.