Mgi Tech Co.,Ltd. (ASX: 688114) has announced a plan to repurchase its own shares using its own funds and raised capital.
The company intends to use the repurchased shares for future employee stock ownership plans or equity incentive schemes at an appropriate time.
The total amount allocated for the share repurchase is set at no less than 2.5 billion yuan and no more than 5 billion yuan.
The repurchase price per share will not exceed 77.29 yuan.
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