ABOV Semiconductor Co., Ltd. announces an Equity Buyback for KRW 3,500 million worth of its shares.
March 20, 2020 at 05:14 am
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ABOV Semiconductor Co., Ltd. (KOSDAQ:A102120) announces a share repurchase program. Under the program, the company will repurchase up to KRW 3,500 million worth of its own shares pursuant to a contract with Korea Investment & 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 21, 2020. As of March 19, 2020, the company had 906,835 treasury shares within scope available for dividend and 2 shares in treasury through other repurchase.
ABOV Semiconductor Co., Ltd is a Korea-based company engaged in the development and manufacture of semiconductor chips. The Company mainly produces general purpose micro-controller units (MCUs), including flash type for household appliances as well as audio and video equipment, and one time programmable (OTP) type for small-sized household appliances and remote controllers, and special MCUs, mainly used for environment, sensors, voice integrated circuits (ICs) and others. In addition, the Company provides peripheral ICs and others. Its main customers are Samsung, LG, Midea, Haier, Dension and others. On January 1, 2013, the Company merged with its wholly owned subsidiary, ETA CHIPS CO., which is mainly engaged in the semiconductor and software.
ABOV SEMICONDUCTOR CO., LTD. 
