Ilshin Spinning Co.,Ltd announces an Equity Buyback for 134,000 shares.
February 20, 2023 at 10:41 am IST
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Ilshin Spinning Co.,Ltd (KOSE:A003200) announces a share repurchase program. Under the program, the company will repurchase up to 134,000 shares. The purpose of the buyback is to enhance the shareholder's value. The plan will be valid up to May 13, 2023. As on February 19, 2023, the company had 639,190 shares within scope available for dividend and no shares in treasury through other repurchase.
On April 13, 2023, the company adjusted the value of number of shares to be repurchased to 1,340,000 shares to reflect stock split.
On April 24, 2023, the company announced that the shares will be repurchased at a price of KRW 15,000 per share. The company will repurchase 1,340,000 registered common shares, representing 5.76% of its issued share capital.
ILSHIN SPINNING CO., LTD is a Korea-based company principally engaged in the manufacture of textiles. The Company operates in five business divisions. Its textile division provides three categories of textiles: yarns, including combed cotton yarns, core spun yarns and blended yarns; dyed yarns and dyed fabrics, including rayon-blended yarns, cotton yarns, cotton knitted fabrics, cotton-blended fabrics and others, as well as fabric products. Its cosmetics division distributes cosmetics under the brand name of THE BODY SHOP. Its investment division involves in the venture capital business. Its wine division imports overseas wines and distributes them to domestic market. Its property leasing division involves in the leasing of commercial and industrial buildings.
ILSHIN SPINNING CO., LTD 
