Puya Semiconductor Shanghai (SHA:688766) Chairman Wang Nan proposed a share repurchase of between 30 million yuan and 50 million yuan following a 20% decline in the company's share price over 20 consecutive trading days, according to a Tuesday filing with the Shanghai bourse.
The repurchase price will not exceed 150% of the 30-day average trading price before board approval.
Shares of the semiconductor device producer rose nearly 18% in recent trade.
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