Piolink, Inc. announces an Equity Buyback for KRW 2,000 million worth of its shares.
March 17, 2020 at 02:09 am EDT
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Piolink, Inc. (KOSDAQ:A170790) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of own shares pursuant to a contract with IBK Securities Co., Ltd. The purpose behind the program is to improve shareholder value and to stabilize stock price. The repurchase program will expire on September 17, 2020. As of March 16, 2020, the company had 376,714 treasury shares within scope available for dividend and no shares in treasury through other repurchase.
PIOLINK Inc. is a Korea-based company mainly engaged in the manufacture of equipment for application networking, as well as other information technology (IT) equipment and parts. The Company mainly manufactures application delivery controllers (ADCs), which enhance the performance of Web-based and related applications for end users by providing a suite of services at network and application layers; Web application firewall (WAF), which intends to guarantee construction and operation of safe Web business environment by preventing illegal use of and invasion to Web servers and Web applications, as well as security switches and others. It also engaged in the sale of voice over Internet protocol (VoIP) firewall products.