Joong Ang Enervis Co., Ltd announces an Equity Buyback for KRW 2,000 million worth of its shares.
November 23, 2020 at 12:46 pm IST
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Joong Ang Enervis Co., Ltd (KOSDAQ:A000440) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of its shares pursuant to a contract with Shinhan Bank. The purpose of the program is to stabilize the stock price. The program will be valid till August 18, 2021. As of November 22, 2020, the company had 1,583,450 common shares in treasury within the scope available for dividend and no shares in treasury through other repurchases.
Joong Ang Enervis Co Ltd is a Korea-based company primarily engaged in the petroleum sales business. The Company operates business through four segments. The Oil Sales segment is engaged in the sale of general oils such as grade gasoline, regular gasoline, diesel fuel, and kerosene, as well as liquefied petroleum gas (LPG). The Rental segment is engaged in real estate rental business. The Service Revenue segment engages in service business. The Electricity segment is engaged in solar energy generation business.
JOONG ANG ENERVIS CO., LTD 
