Ringnet Co., Ltd. announces an Equity Buyback for KRW 1,500 million worth of its shares.
January 05, 2018 at 05:42 am
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Ringnet Co., Ltd. (KOSDAQ:A042500) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,500 million worth of shares pursuant to a trust agreement with Yuanta Securities Korea Co., Ltd. The purpose of the share repurchase is to improve shareholder value and stabilize stock price. The repurchase program will continue until January 4, 2019. As of January 4, 2018, the company had 1,247,376 shares in treasury repurchased within scope available for dividend and 1,728 shares in treasury through other repurchase.
RingNet Co., Ltd. is a Korea-based company principally engaged in the network integration (NI) services business. The Company provides network system integration consulting and construction services to public institutions, general enterprises, and educational institutions. The Company also offers telepresense systems, storage systems, Internet protocol (IP) telephony, cloud virtualization and other services.