DAEYANG ELECTRIC.Co.,Ltd. announces an Equity Buyback for KRW 1,000 million worth of its shares.
April 01, 2020 at 01:16 am EDT
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DAEYANG ELECTRIC.Co.,Ltd. (KOSDAQ:A108380) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 million worth of its common stock, pursuant to a contract with Samsung Securities Co., Ltd. The purpose of the program is to stabilize the stock price over the enhancement of shareholders' value. The program will end on September 30, 2020. As of March 31, 2020, the company had 192,259 shares in treasury within the scope available for dividend and no shares in treasury through other repurchase.
DAEYANG ELECTRIC. Co., Ltd. is a Korea-based company engaged in the manufacturing of lighting devices and electrical components. The Company's product portfolio consists of lighting devices, electronic systems, distribution boards, receptacles and fans. The lighting devices include fluorescent lightings, incandescent lightings, navigation and signal lightings, spot lights, search lights, anti-explosion lamps and others for industrial and ship uses. The electronic systems are used in marine communication and navigation equipment, refrigeration container monitoring systems, and others. The distribution boards are used for ships and trains. It also provides lead storage batteries through its subsidiary. The Company mainly distributes its products to overseas markets.
DAEYANG ELECTRIC.CO.,LTD. 
