Finetek Co., Ltd. announces an Equity Buyback for KRW 1,000 million worth of its shares.
May 16, 2016
Share
Finetek Co., Ltd. (KOSDAQ:A131760) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 million of its shares pursuant to a trust contract with NH Investment & Securities Co., Ltd. The purpose of the share repurchase program is to stabilize the share price and to enhance shareholder value. The share repurchase program is valid until November 16, 2016. As of May 16, 2016, the company had no shares in treasury within scope available for dividend and had no shares in treasury through other repurchase.
FINETEK CO., LTD. is a Korea-based company principally engaged in engaged in the manufacture and distribution of display components. The Company mainly manufactures display components including black light units (BLUs) which are used in smart phones, tablet personal computers, navigations and other digital products. The Company also produces touch screen panels (TSPs) which are touch screen modules used in mobile devices, and liquid crystal display (LCD) modules (LCMs) and TSP sensors. The Company manufactures and distributes its products in domestic and overseas markets.