Kyungdong Invest Co., Ltd announces an Equity Buyback for KRW 3,000 million worth of its shares.
November 27, 2019 at 02:28 am EST
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Kyungdong City Gas Co., Ltd. (KOSE:A012320) announces a share repurchase program. Under the program, the company will repurchase up to KRW 3,000 million worth of its shares under the contract with Mirae Asset Daewoo Co., Ltd. The purpose of the program is to stabilize the stock price and to enhance the shareholders’ value. The program will be valid till May 28, 2020. As of November 26, 2019, the company had 0 shares in treasury under the allowable range acquisition and 91,895 shares in treasury under other capacities.
KYUNGDONG INVEST CO., LTD., formerly KYUNGDONG CITY GAS CO., LTD., is a Korea-based company engaged city gas business. The Company supplies liquefied natural gas (LNG) to residential, commercial and industrial customers in Ulsan city and Ansan city. It also sells gas boilers, and provides compressed natural gas (CNG) charging services. Through its subsidiaries, it is involved in the LNG piping works, high pressure works, water and sewage equipment engineering, logistics services, such as warehouse services, logistics management and others, provision of city gas safety management services (SMSs), as well as civil engineering and building construction, such as road, railways and apartments, among others. On March 31, 2014, the Company established a wholly owned subsidiary, engaged in the development business.
KYUNGDONG INVEST CO., LTD 
