KPX Chemical Co.,Ltd announces an Equity Buyback for KRW 8,000 million worth of its shares.
April 11, 2017 at 12:52 pm IST
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KPX Chemical Co.,Ltd (KOSE:A025000) announces a share repurchase program. Under the program, the company will repurchase up to KRW 8,000 million worth of its shares pursuant to a trust contract with IBK Securities Co. Ltd. The purpose of the share repurchase program is to improve shareholder value and to stabilize the stock price. The program is valid until October 11, 2017. As of April 10, 2017, the company had no shares in treasury within scope available for dividend and had no shares in treasury through other repurchase.
KPX CHEMICAL CO.,LTD. is a Korea-based company mainly engaged in the manufacture of chemical products. The Company produces polyether polyol products, including polyether for flexible slab-foams, flexible mold-foams, semi-rigid urethane foams, rigid urethane foams and non-foams, as well as polyurethane (PU) resin products. It also produces electronic materials, including electronic chemicals products, which are used in flat panel displays (FPDs), semiconductors and other industries, and chemical mechanical planarization (CMP) pads. The Company distributes its products within domestic market and to overseas markets.