Chokwang Leather Co.,Ltd. announces an Equity Buyback for KRW 3,000 million worth of its shares.
September 14, 2018 at 03:46 am EDT
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Chokwang Leather Co.,Ltd. (KOSE:A004700) announces a share repurchase program. Under the program, the company will repurchase shares for KRW 3,000 million under the contract with Mirae Asset Daewoo Co., Ltd. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will be valid until March 14, 2019. As of September 13, 2018, the company had 3,056,587 shares in treasury under the dividend capacity and no share in treasury under other capacities.
Chokwang Leather Co.,Ltd. is a Korea-based company engaged in the manufacture and distribution of leathers. The Company mainly provides automotive leathers, which are used as seat covers, headrests, armrests, steering wheels, door trims, dash boards, knobs and others, as well as fashion leathers, including full grain, shrunken, vegetable tanned, oil type, corrected grain, waterproof and other types, which used in the shoes, handbags, wallets, belts and others. It also provides leathers used as furniture and other products. In addition, it is involved in the provision of byproducts in the leather manufacturing process. The Company distributes its products within domestic market and to overseas market.
CHOKWANG LEATHER CO.,LTD. 
