Kona I Co.,Ltd. announces an Equity Buyback for KRW 5,000 million worth of its shares.
March 14, 2023 at 11:58 pm EDT
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Kona I Co.,Ltd. (KOSDAQ:A052400) announces a share repurchase program. Under the program, the company will repurchase up to KRW 5,000 million worth of its shares according to the contract with Shinhan Investment & Securities. The purpose of the program is stock price stability and shareholder value enhancement.
The program will continue through September 15, 2023. As of March 14, 2023, the company had 1,654,586 within scope available for dividend and had 1,110 shares in treasury through other repurchases.
KONA I CO.,LTD. is a Korea-based company engaged in the development and provision of smart cards and related products. The Company provides various smart cards, including universal subscriber identity module (USIM) cards, integrated circuit (IC) chip cards, health cards, national identification cards, electronic passport cards and others. The Company provides its smart cards under the brand names of Kona and Mybi. The Company also provides chip on board (COB) assemblies used to manufacture smart cards. In addition, it develops smart card management systems, and provides system integration (SI) and maintenance services. On April 24, 2013, the Company changed its name from KONA@I CO.,LTD. to KONA I CO.,LTD. On September 2, 2013, it merged with its wholly owned subsidiary, engaged in the software development and card sales.
KONA I CO.,LTD. 
