DAEWON Chemical Co., Ltd. announces an Equity Buyback for KRW 300 million worth of its shares.
November 24, 2020 at 09:15 pm EST
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DAEWON Chemical Co., Ltd. (KOSE:A024890) announces a share repurchase program. Under the program, the company will repurchase up to KRW 300 million worth of its shares pursuant to a contract with KDB Bank. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will expire on November 24, 2021. As of November 24, 2020, the company had 326,560 shares in treasury within scope available for dividend and had 0 shares in treasury through other repurchases.
DAEWON CHEMICAL CO., LTD. is a Korea-based company mainly engaged in the manufacture of synthetic leathers. The Company operates in three segments: wallpaper, synthetic leather and refinery. Its wallpaper segment is engaged in the manufacture of fire retardant wallpapers, silk wallpapers, charcoal wallpapers, wiping wallpapers and others used as interior finishing materials under the brand name D&D, 4U and others. Its synthetic leather segment is engaged in the manufacture of synthetic leathers and artificial leathers used for shoes, balls, gloves and garments, and processing of fabrics under the brand name Art-Lite, Ace-Buck, High-Lock, Encarta and others. Its refinery segment refines waste di-methyl formamide (DMF) in the process of synthetic leather manufacture.
DAEWON CHEMICAL CO., LTD. 
