Pyeong Hwa Automotive Co., Ltd. announces an Equity Buyback for KRW 3,000 million worth of its shares.
April 01, 2020 at 01:07 am EDT
Share
Pyeong Hwa Automotive Co., Ltd. (KOSDAQ:A043370) announces a share repurchase program. Under the program, the company will repurchase up to KRW 3,000 million worth of its shares pursuant to a contract with NH Investment & Securities Co., Ltd. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will expire on October 5, 2020. As of March 31, 2020, the company had no shares in treasury within scope available for dividend and had 1,175 shares in treasury through other repurchase.
PHA Co Ltd, formerly Pyeong Hwa Automotive Co Ltd is a Korea-based company mainly engaged in the manufacturing of automotive parts. The Companyâs products portfolio consists of latch assemblies, including door, seat, hood, trunk lid and tail gate latches; door module assemblies, including sealed door modules and open door modules; hinge assemblies, including door, hood and trunk lid and tail gate hinges; striker assemblies, as well as door checkers, regulator systems, power systems and others. The Company distributes its products within domestic market and to overseas markets.