Samyoung M-Tek Co. Ltd announces an Equity Buyback for KRW 1,000 million worth of its shares.
August 05, 2019 at 10:22 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 1,000 million worth of its own shares, pursuant to a contract with DB Financial Investment Co., Ltd. The purpose of the buyback is to gain price stability and shareholder value. The plan will be valid up to February 6, 2020. As of August 5, 2019, the company has 150,000 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 
