Development Advance Solution Co.,Ltd. announces an Equity Buyback for KRW 3,000 million worth of its shares.
May 09, 2023 at 09:53 am IST
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Development Advance Solution Co., Ltd. (KOSE:A058730) announces a share repurchase program. Under the program, the company will repurchase shares up to KRW 3,000 million worth of its shares under the contract with Korea Investment & Securities Co., Ltd. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will be valid until November 8, 2023.
As of May 8, 2023, the company had 591,711 shares in treasury under the dividend capacity and no shares in treasury under other buyback.
Development Advance Solution Co.,Ltd. is a Korea-based company mainly engaged in the production and sale of road safety facilities. Along with subsidiaries, the Company operates its business through three segments. The Social Overhead Capital (SOC) segment is involved in the manufacturing and sale of road safety facilities. The road safety facilities include general guard rails, high specification guard rails, rigid differential guard rails, steel barriers, open protective fences and sound barrier walls, among others. The Building Material Business segment manufactures and sells deck plates and building materials. The New Renewable Energy Business segment operates the solar power generation facilities.