Samchully Co.,Ltd announces an Equity Buyback for KRW 10,000 million worth of its shares.
February 03, 2020 at 02:36 am EST
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Samchully Co.,Ltd (KOSE:A004690) announces a share repurchase program. Under the program, the company will repurchase up to KRW 10,000 million worth of its shares, pursuant to a contract with Korea Investment & Securities Co., Ltd. The purpose of the share repurchases is to stabilize the stock price and to enhance the shareholder value. The program is valid till August 3, 2020. As of February 2, 2020, the company had 491,620 shares in treasury within the scope available for dividend and no shares in treasury through other repurchase.
Samchully Co., Ltd. is a Korea-based company engaged in the provision of city gas. Along with its subsidiaries, the Company operates five business segments: city gas segment, which mainly supplies liquefied natural gas (LNG) to residential and commercial customers in Gyeonggi-do and Incheon-si; group energy business segment, which supplies heating and electricity; plant segment, which involves in the gas and heating pipelines, and cooling and heating construction business; resource development segment, which mainly sells oil and gas, and other business segment, which involves in the water projects, new and renewable energy business, asset management, catering business and others.
SAMCHULLY CO.,LTD 
