Motonic Corporation announces an Equity Buyback for KRW 5,000 million worth of its shares.
December 14, 2017 at 09:15 pm EST
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Motonic Corporation (KOSE:A009680) announces a share repurchase program. Under the program, the company will repurchase up to KRW 5,000 million of its shares pursuant to a trust contract with Mirae Asset Daewoo Co., Ltd. The purpose of the share repurchase program is to stabilize the treasury stock price. The share repurchase program is valid until December 14, 2018. As of December 14, 2017, the company had 10,786,485 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase.
MOTONIC CORPORATION is a Korea-based company mainly engaged in the manufacture of automobile parts. The Company's products consist of liquefied petroleum injection (LPI) systems, clutches, intake systems, continuously variable valve lifts(CVVLs), gasoline direct injection (GDI) pumps, actuators, compressed natural gas (CNG) systems, exhaust gas recirculations (EGRs), vacuum pumps, air induction components, fuel rails, liquefied petroleum gas (LPG) bi-fuel system parts, sensors, rocker arms and others. Its main clients are Hyundai Motors and Kia Motors. The Company distributes its products within domestic market and to overseas markets.
MOTONIC CORPORATION 
