Sanan Optoelectronics announces share repurchase plan of up to CNY 1.5bn
Sanan Optoelectronics (SSE:600703) announced a share repurchase plan, committing between CNY 1 billion and CNY 1.5 billion for the repurchase of company shares. The repurchased shares, not exceeding CNY 16.00 per share, will be used for employee stock ownership plans or equity incentives. The buyback period will not exceed six months from the date of board approval. The company will use its own funds and self-raised funds for the repurchase, which could result in a buyback of between 62.5 million and 93.75 million shares. Sanan Optoelectronics says the repurchase reflects confidence in the company's future and its long-term value, aiming to protect shareholder interests and enhance investor confidence. There is a risk that the actual price could exceed the limit or the funds may not be sufficient.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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