Michang Oil Ind. Co., Ltd. announces an Equity Buyback for KRW 2,000 million worth of its shares.
July 26, 2019 at 12:44 am EDT
Share
Michang Oil Ind. Co., Ltd. (KOSE:A003650) announces a share repurchase program. Under the program, the company will repurchase shares up to KRW 2,000 million worth of its shares under the contract with Samsung Securities Co.,Ltd. The purpose of the program is to protect investor through stock price stabilization. The program will be valid until July 25, 2020. As of July 25, 2019, the company had 185,388 shares in treasury under the dividend capacity and no shares in treasury under other capacities.
MICHANG OIL IND. CO., LTD. is a Korea-based company principally engaged in the manufacture of lubricant oil. The Company manufactures lubricant oil used for industrial machineries, ships and automobile; rubber-compounded oil used for tires, shoes and rubber products, and insulating oil used for electronic transformers. The Company also provides liquid paraffin used for food, cosmetics, medicines, textile and others, as well as hydro-carbon solvents and cleaners. The Company distributes its products within domestic market and to overseas markets.
MICHANG OIL IND .CO.,LTD. 
