Korea United Pharm Inc. announces an Equity Buyback for 300,000 shares, for KRW 5,295 million.
October 14, 2016 at 12:12 pm IST
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Korea United Pharm Inc. (KOSE:A033270) announces a share repurchase program. Under the program, the company will repurchase up to 300,000 shares for a total of KRW 5,295 million, which is based on the closing price of the shares on October 13, 2016. The company will repurchase its shares through the Stock Exchange. The purpose of the share repurchase program is to stabilize the share price. The maximum number of shares that the company may repurchase on any day is 30,000 shares. The share repurchase program is valid until January 13, 2017. As on October 13, 2016, the company had 1,100,000 shares in treasury within scope available for dividend and had 1,573 shares in treasury through other repurchase.
KOREA UNITED PHARM. INC. is a Korea-based company engaged in the manufacture and marketing of pharmaceuticals. The Companyâs products include remedies for gastrointestinal system, cardiovascular, hematopoietic system, respiratory system, central nervous system, musculoskeletal system, endocrine and metabolic system, allergy and immune system, as well as anti-infectives, gynecological agents, vitamins, nutrition products, anticancer medicines and others. It also provides active pharmaceutical ingredients (APIs) and various health food products. The Company distributes its products within domestic market and to overseas markets.