Yuen Chang Stainless Steel Co., Ltd. announces an Equity Buyback for 5,000,000 shares, representing 3.2% for TWD 1,381.08 million.
March 20, 2020 at 03:28 pm
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Yuen Chang Stainless Steel Co., Ltd. (TSEC:2069) announces a share repurchase program. Under the program, the company will repurchase up to 5,000,000 shares, representing 3.2% of its issued share capital for TWD 1,381.08 million. The shares will be repurchased at a price falling in the price range from TWD 18 per share to TWD 9 per share. The purpose of the share repurchases is to transfer to its employees. The repurchase program will continue until May 19, 2020. As of March 20, 2020, the company has no shares in treasury.
Yuen Chang Stainless Steel Co Ltd engages in manufacture stainless steel sheet and stainless steel plate. The Company's products including stainless steel coil, stainless steel sheet, stainless steel plate and stainless steel strip, among others. The Company also provides stainless steel processing services, such as cold rolled shearing, slitting, surface treatment and hot rolled shearing. The Company distributes its products in domestic market, as well as America, Europe and Asia.