Michang Oil Ind. Co., Ltd. announces an Equity Buyback for KRW 5,000 million worth of its shares.
March 02, 2018 at 05:15 am
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Michang Oil Ind. Co., Ltd. (KOSE:A003650) announces a share repurchase program. Under the program, the company will repurchase up to KRW 5,000 million worth of its shares, pursuant to a contract with Samsung Securities Co. Ltd. The purpose of the program is to stabilize stock price for investor protection. The program will expire on March 1, 2019. As of March 2, 2018, the company had 80,338 shares in treasury.
MICHANG OIL IND. CO., LTD. is a Korea-based company principally engaged in the manufacture of lubricant oil. The Company manufactures lubricant oil used for industrial machineries, ships and automobile; rubber-compounded oil used for tires, shoes and rubber products, and insulating oil used for electronic transformers. The Company also provides liquid paraffin used for food, cosmetics, medicines, textile and others, as well as hydro-carbon solvents and cleaners. The Company distributes its products within domestic market and to overseas markets.
MICHANG OIL IND .CO.,LTD. 
