South Korea's Daishin Securities Co. Ltd. will buy back 2,200,000 common shares and 350,000 preferred shares between Sept. 10 and Dec. 9 to support its share prices, the brokerage said in a filing.
The estimated cost of the share buyback is 28.7 billion won. The company will buy shares through its own account.
Daishin Securities currently holds 10,883,449 common shares, or 21.44% of outstanding shares, and 5,680,000 preferred shares, or 15.78% of outstanding shares, in treasury stock, according to the filing.
As of Sept. 9, US$1 was equivalent to 1,190.94 South Korean won.
