Eoptolink Technology Announces Major Share Buyback in Urgent Midday Filing

Deep News10-23

On October 23, Eoptolink Technology Inc.,Ltd. (ASX: 300502) issued a midday announcement stating its intention to repurchase A-shares worth between 800 million and 1 billion yuan.

The announcement revealed that the board of directors approved a proposal to buy back the company's A-shares, with a planned total repurchase amount of no less than RMB 800 million (inclusive) and no more than RMB 1 billion (inclusive). The repurchase price per share shall not exceed RMB 500 (inclusive), and the repurchase period extends for 12 months from the date the board approved the buyback proposal.

The estimated number of shares to be repurchased ranges from approximately 1,600,000 to 2,000,000 shares, representing roughly 0.11% to 0.14% of the company's total share capital. The repurchased shares are intended to be used at an appropriate time for future equity incentive plans or employee stock ownership plans.

On the trading front, Eoptolink Technology Inc.,Ltd. (ASX: 300502) share price has been trending downward with volatility since late September, declining for four consecutive trading days starting Tuesday. It fell more than 12% at yesterday's close, and as of midday close today, it had dropped over 7% to RMB 237.83 per share, with trading volume exceeding 11 billion yuan and a latest market capitalization of 331.7 billion yuan.

CPO concept stocks showed lackluster performance today. As of midday close, T&S Communications dropped more than 7%, while Zhongji Innolight fell over 5%.

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.

Comments

We need your insight to fill this gap
Leave a comment