SUN KWANG CO.,Ltd. announces an Equity Buyback for ZAR 5,000 million worth of its shares.
March 19, 2020 at 12:28 pm IST
SUN KWANG CO.,Ltd. (KOSDAQ:A003100) 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 contract with Korea Investment & Securities Co., Ltd. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will expire on September 21, 2020. As of March 18, 2020, the company had 581,000 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase.