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Article: KOREA'S HYUNDAI ELEVATOR COMPLETES STOCK BUYBACK.
- Article from:
- AsiaPulse News
- Article date:
- June 17, 2004
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SEOUL, June 17 Asia Pulse - Hyundai Elevator Co. (KSE:17800), the de facto holding company of Hyundai Group, said Thursday that it has completed its planned buyback of its shares, helping consolidate its management control.
In a disclosure to the Korea Stock Exchange, the company said it spent about 25.3 billion won buying back 705,880 ordinary shares, equivalent to a 9.9 per cent of outstanding shares, in the market.
The share buyback, which started on April 26, raised the portion of the company's treasury shares against its outstanding stocks to 11.35 per cent, according to company officials.
With the share buyback, the company came to secure ...