Hankuk Steel Wire Co., Ltd. announces an Equity Buyback for KRW 2,000 million worth of its shares.
March 13, 2020 at 09:39 am IST
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Hankuk Steel Wire Co., Ltd. (KOSDAQ:A025550) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of own shares pursuant to a contract with Samsung Securities Co. Ltd. The purpose behind the program is to improve shareholder value and to stabilize stock price. The repurchase program will expire on March 12, 2021. As of March 12, 2020, the company had 946,772 treasury shares within scope available for dividend and 13,455 shares in treasury through other repurchase.
HANKUK STEEL WIRE CO., LTD. is a Korea-based company engaged in the manufacture and marketing of steel wires. The Company produces mild steel wires, hard steel wires, anti-corrosion coated wires, wire ropes, shape steel products, steel products and stainless steel wires. Its mild steel wires include common steel wires, galvanized steel wires and unpolished galvanized steel wires for coloring and painting. Its wire ropes include cross laid wire ropes, single ropes, parallel laid wire ropes, compacted wire ropes, swaged wire ropes and guide ropes. Its stainless steel wires are mainly used for automobiles, household appliances, communication equipment and others. In addition, it is involved in the provision of fittings, valves and other parts used in shipbuilding, electric power equipment and others.
HANKUK STEEL WIRE CO., LTD. 
