Eddie Precision Machinery to Buy Back Up to 200 Million Yuan Worth of Shares
MT Newswires Live
4 hours ago
Yantai Eddie Precision Machinery (SHA:603638) plans to repurchase shares worth between 100 million yuan and 200 million yuan, according to a Shanghai bourse filing on Friday.
About 3.6 million shares to 7.1 million shares, which represents 0.41% to 0.81% of the company's total shares, will be bought back for up to 28 yuan each.
The share buyback will be implemented within 12 months through centralized bidding after the board of directors' approval.
The repurchased shares will be used for an employee stock ownership plan or equity incentive.
The machinery company's shares slipped 1% during the afternoon trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.