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Daishin Securities to buy back 28.7B won worth of shares

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Daishin Securities to buy back 28.7B won worth of shares

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.