Formetal Co., Ltd. announces an Equity Buyback for 177,448 shares, representing 1.48% for KRW 783.08 million.
October 11, 2017 at 09:18 pm
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Formetal Co., Ltd. (KOSDAQ:A119500) announces a share repurchase program. Under the program, the company will repurchase up to 177,448 shares, representing 1.48% of its issued shares. The shares will be repurchased at a price of KRW 4,413 per share. The shares repurchased will be retired. The shares repurchased will be paid in cash. As of October 10, 2017, the company had 12,024,680 shares in issue.
FORMETAL CO., LTD. is a Korea-based company engaged in the forging business. The Company provides automobile parts, including spindles, knuckles, yokes, arms, connecting rods, cam shafts and others; new and renewable energy source and automation machine parts, including shafts, hold flanges, reduction gears, as well as robot components and others; military vehicle parts, including various arms, wheels and others; industrial machine parts, including bearings, valves, bonnets, railroad components, high pressure valves and others, and agricultural machine parts, including cam shafts, connecting rods and crank shafts. The Company distributes its products within domestic market and to overseas markets.
FORMETAL CO., LTD. 
