RedcapTour Co., Ltd. announces an Equity Buyback for KRW 2,000 million worth of its shares.
October 20, 2016 at 12:56 am EDT
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Redcap Tour Co., Ltd. (KOSDAQ:A0383990) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million of its shares pursuant to a trust contract with Mirae Asset Securities Co., Ltd. The purpose of the share repurchase program is to stabilize the share price. The share repurchase program is valid until October 20, 2017. As of October 19, 2016, the company had 340,344 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase.
RedcapTour Co., Ltd. is a Korea-based company mainly engaged in the travel and car rental businesses. The Company operates its business through two divisions: car rental business division and travel business division. Its car rental business division provides short-term and long-term vehicle rental and sale of used vehicles services. Its travel business division is engaged in the provision of travel arrangement services, such as honeymoon, overseas travels, backpacking travels, luxury cruises travels, free individual travels and business travels. It also markets airline tickets.
REDCAPTOUR CO., LTD. 