KCC Engineering & Construction Co., Ltd. announces an Equity Buyback for KRW 10,000 million worth of its shares.
March 20, 2020 at 12:28 pm IST
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KCC Engineering & Construction Co., Ltd. (KOSDAQ:A021320) announces a share repurchase program. Under the program, the company will repurchase up to KRW 10,000 million worth of its 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 September 19, 2020. As of March 19, 2020, the company had no treasury shares within scope available for dividend and no shares in treasury through other repurchase.
KCC ENGINEERING & CONSTRUCTION CO., LTD. is a Korea-based company engaged in the construction and engineering business. The Company operates its business through four segments: civil engineering segment, architecture segment, presale construction segment and steel structures segment. Its civil engineering segment constructs expressways, railways, roads, bridges, tunnels, harbors, reclamation works, site renovation works, as well as the water supply and sewerage systems. Its architecture segment engages in the construction of commercial buildings, office buildings, residential buildings, factories, plants and others. Its presale construction segment constructs and markets apartment and residential complexes. Its steel structures segment constructs steel frames for buildings and steel bridges.