Hyundai Elevator Co., Ltd announces an Equity Buyback for KRW 100,000 million worth of its shares.
May 03, 2023 at 10:05 pm EDT
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Hyundai Elevator Co., Ltd (KOSE:A017800) announces a share repurchase program. Under the program, the company will repurchase up to KRW 100,000 million worth of its shares, pursuant to a trust contract with Korea Investment & Securities Co., Ltd. The purpose of the program is to enhance shareholder value through stock price stabilization. The program will expire on November 07, 2023.
As of May 3, 2023, the company had 1,722,806 shares in treasury within scope available for dividend and no shares under other acquisition.
Hyundai Elevator Co Ltd is a Korea-based company mainly engaged in the production and sale of the elevators. The Company operates its business through six segments. The Goods Handling Equipment Manufacturing segment is engaged in the production and sales of products such as elevators, escalators and parking facilities. The Installation and Repair Service segment is engaged in business such as installation and sales of elevator products, repair work, and regular maintenance. The Real Estate Rental segment is engaged in land and building rental business. The Tourism and Accommodation segment is engaged in the management of hotels and training centers, and real estate management. The Travel and Construction segment is engaged in the tourism and construction businesses. The Other segment is engaged in the consulting and education business.