Soulbrain Co., Ltd. announces an Equity Buyback for KRW 5,000 million worth of its shares.
September 29, 2022 at 01:42 pm IST
Share
Soulbrain Co., Ltd. (KOSDAQ:A357780) announces a share repurchase program. Under the program, the company will repurchase up to KRW 5,000 million worth of its shares pursuant to a trust agreement with Mirae Asset Securities Co., Ltd. The purpose behind the program is to stabilize the stock price and to enhance shareholder value. The program will continue until March 29, 2023.
As of September 28, 2022, the company had no common shares within dividend capacity and had 12,430 shares in treasury through other acquisitions.
Soulbrain Co Ltd is a Korea-based company mainly engaged in the manufacture and sale of information and technology (IT) materials. The Company is engaged in the semiconductor materials business, display materials business, secondary battery materials business, electronic materials business, and bio-health care business. The semiconductor materials business manufactures and sells semiconductor materials such as etching and cleaning solutions. The display materials business produces and supplies major parts for panels such as thin glasses. The secondary battery materials business produces electrolytes and lead tabs, and is also engaged in the development of mid-to-large-sized battery materials. The electronic materials business mainly develops and produces electronic materials necessary for the process of solar power generation, and electric vehicles. The bio-healthcare business mainly produces and sells cell therapy products and bio-materials necessary for the cosmetics business.