SAMYOUNG M-Tek Co., Ltd announces an Equity Buyback for KRW 7,000 million worth of its shares.
August 13, 2020 at 09:07 pm EDT
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Samyoung M-Tek Co. Ltd (KOSDAQ:A054540) announces a share repurchase program. Under the program, the company will repurchase up to KRW 7,000 million worth of its own shares, pursuant to a contract with DB Financial Investment Co., Ltd and Korea Investment & Securities Co.,Ltd. The purpose of the buyback is to stabilize stock price and enhance shareholder value. The plan will be valid up to February 15, 2021. As of August 13, 2020, the company has 395,000 treasury shares within scope available for dividend and no treasury stock through other buyback.
SAMYOUNG M-Tek Co. Ltd is a Korea-based company engaged in the manufacture of cast steel products. The Company's products consist of bridge bearings, including elastic bearings, port plates, lead rubber bearings, spherical bearings, quake resistant bearings and others; ship building parts, including main bearing supports, chain wheels and cylinder covers; steel structures, including bridges, tower saddles and strand shoes; industrial plant equipment, including roll chocks and trunnion shafts; construction equipment, including track shoes, flanges, brackets and sprockets; power plant equipment, such as planet carriers, and other parts, including couplers, axle housings, side frames, bolsters, mono rail shoes and others.
SAMYOUNG M-TEK CO., LTD 
