Aekyung Petrochemical Co., Ltd announces an Equity Buyback for 460,000 shares.
March 14, 2017 at 03:14 am EDT
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Aekyung Petrochemical Co., Ltd (KOSDAQ:A161000) announces a share repurchase program. Under the program, the company will repurchase up to 460,000 shares for a total of KRW 5,014 million, which is based on the closing price of KRW 10,900 per share on March 13, 2017. The company will repurchase its shares on the Stock Exchange through KOSPI. The purpose of the share repurchase program is to improve shareholder value and to stabilize share price. The maximum number of shares that the company may repurchase on any day is 46,092 shares. The share repurchase program is valid until June 14, 2017. As of March 13, 2017, the company had no shares in treasury within scope available for dividend and had 15,850 shares in treasury through other repurchase.
AekyungChemical Co Ltd formerly Aekyung Petrochemical Co Ltd is a Korea-based company mainly engaged in the petrochemical business. The Companyâs products portfolio consists of phthalic anhydrides, which are used as phthalate plasticizers, unsaturated polyester resins and dye intermediates; maleic anhydrides, which are used for unsaturated polyester resins for housing units and automobiles, fumaric acids for food and succinic acid; itaconic acids, which are produced through the fermentation of sugar millets or starches; plasticizers, which are organic ester compounds used for leathers, seats, polyvinyl chloride (PVC) films and electrical wires, and ester polyols. It also involves in the provision of alcohols and messaging services. The Company distributes its products within domestic market and to overseas markets.
AEKYUNGCHEMICAL CO., LTD. 
