Dongil Steel Mfg. Co.,Ltd. announces an Equity Buyback for KRW 1,000 million worth of its shares.
March 23, 2020 at 06:35 am
Share
Dongil Steel Mfg. Co.,Ltd. (KOSE:A002690) 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 NH 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 22, 2020. As of March 22, 2020, the company had no treasury shares within scope available for dividend and no shares in treasury through other repurchase.
DONG IL STEEL MFG CO., LTD is a Korea-based company mainly engaged in the manufacture of steel products. The Company operates two segments: wire rod segment, which manufactures prestressing strands that used for the construction of bridges, buildings, railway sleepers, anchors and nuclear power plants; hard drawn steel wires that used in industrial machineries, furnitures and automobiles; and plasted wires that used for attached communication line, cable support and farming materials, and cold drawn steel bar segment, which manufactures cold drawn bars (CDBs) that used in automobiles, electronic components, constructions and heavy equipments; and stainless (SUS) cold drawn bars. The Company distributes its products within domestic market and to overseas markets.