Hyundai Industrial Co., Ltd. announces an Equity Buyback for KRW 1,000 million worth of its shares.
June 01, 2018 at 06:08 am IST
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Hyundai Industrial Co., Ltd. (KOSDAQ:A170030) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 million worth of shares, pursuant to a contract with Shinyoung Securities Co., Ltd. The purpose of the buyback is to stabilize the share prices and to raise shareholder value The plan will be valid up to May 31, 2019. As on May 31, 2019, the company had 219,508 common shares in its treasury available from buyback for dividend purposes and no shares in treasury for other repurchases.
Hyundai Industrial Co.,Ltd. is a Korea-based company mainly engaged in the manufacture and distribution of automobile components. The Company's product portfolio consists of automobile seat pads, armrests, head rests, seat side pads and others. Its products are mainly used for automobile seats. The Company's main clients consist of Hyundai Motors and Kia Motors. The Company distributes its products within domestic market and to overseas markets.