SAMICK MUSICAL INSTRUMENT Co., Ltd announces an Equity Buyback for 2,500,000 shares.
December 10, 2021 at 11:28 am IST
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SAMICK MUSICAL INSTRUMENT Co., Ltd (KOSE:A002450) announces a share repurchase program. Under the program, the company will repurchase up to 2,500,000 shares. The purpose of the program is enhancement of shareholder value and stock price stabilization.
The program will expire on March 9, 2022. As of December 9, 2021, the company had 7,000,000 and 0 treasury shares within the scope of dividend payable acquisition and other acquisition respectively.
SAMICK MUSICAL INSTRUMENT Co., Ltd is a Korea-based company mainly engaged in the manufacture and sale of musical instruments. The Company mainly manufactures pianos, including acoustic pianos with grand and upright series, and digital pianos. It also produces other musical instruments, such as guitars, violins, bass amplifiers, cellos, flutes, trumpets, saxophones, clarinets, ocarinas, harmonicas, drums, mixers, amplifiers and others. In addition, the Company engages in the piano rental and real estate rental businesses. The Company distributes its products within domestic market and to overseas markets. On September 16, 2014, it acquired land and building located in Seoul, for rental business.
SAMICK MUSICAL INSTRUMENT CO., LTD 