Beijing Kingsoft Office Software (SHA:688111) proposed to repurchase shares worth 250 million yuan and 500 million yuan, according to a Shanghai bourse filing on Monday.
Each share will be bought back for up to 352.11 yuan within 12 months after the board of directors' approval through centralized bidding.
The repurchased shares will be used for the company's employee stock ownership plans and equity incentive plans.
The software product distributor's shares jumped 7% at the close.
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