Geumhwa Plant Service & Construction Co., Ltd. announces an Equity Buyback for KRW 5,000 million worth of its shares.
March 23, 2020 at 08:28 am
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Geumhwa Plant Service & Construction Co., Ltd. (KOSDAQ:A036190) announces a share repurchase program. Under the program, the company will repurchase up to KRW 5,000 million worth of its own shares pursuant to a contract with Shinhan Financial Investment. 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.
GEUMHWA PLANT SERVICE & CONSTRUCTION CO., LTD. is a Korea-based company mainly engaged in the construction of industrial plants. The Company constructs plants, such as thermoelectric power plants, nuclear power plants, petrochemical plants, liquefied natural gas (LNG) bases, tidal power plants, steel manufacturing plants, as well as other plant works, including the installation of incinerators, sewage disposal plants and apartment facilities. It also provides power plant maintenance services, including upkeep services, as well as precaution and rehabilitation services for boilers, desulfurization equipment, turbines and generators. In addition, it engages in the overseas plant construction business. It also involves in the manufacture of automotive components through Ansung Co Ltd.