Nuri Telecom Co., Ltd. announces an Equity Buyback.
March 10, 2020 at 05:07 am
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Nuri Telecom Co., Ltd. (KOSDAQ:A040160) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 million worth of its shares pursuant to a contract with DAISHIN Securities Co., Ltd. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will be valid until September 10, 2020. As of March 9, 2020, the company had 509,632 shares in treasury under the dividend capacity and 0 shares in treasury under other capacities.
NuriFlex Co Ltd, formerly Nuri Telecom Co Ltd, is a Korea-based company principally engaged in the advanced metering infrastructure (AMI) business. The Company operates its business through four segments. The Electric Power Internet of Things (IoT) Business segment is engaged in the development and supply of AMI solutions. The Public IoT Business segment is engaged in green new deals business such as microgrid, energy efficiency and smart city, among others. The Industrial IoT Business segment provides barcode and radio frequency identification (RFID) system solutions related to logistics automation systems. The Other segment provides network application system (NAS) center.