AAC Technologies completes buyback, announces further repurchase

AAC Technologies Holdings Inc. (HKEX:2018) announced the completion of its US$100 million (HK$778 million) automatic share buy-back program, involving the repurchase of 19,676,000 shares, representing 1.6417% of the total issued shares. Furthermore, the Board has authorized a new share repurchase program in the open market of up to HK$1.2 billion over the next 12 to 18 months. The total amount for share repurchases, including the completed program, shall not exceed HK$2.0 billion. The company intends to hold the repurchased shares as treasury shares in compliance with listing rules. The Board believes the proposed share repurchase reflects confidence in the company's long-term business prospects and will benefit shareholders.