Suzhou TFC Optical Communication (SHE:300394) controlling shareholder Tiangfu Renhe proposed a share repurchase plan of between 10 million yuan and 15 million yuan.
The shares will be bought back for up to 350 yuan apiece, according to a Shenzhen bourse aftermarket filing on Thursday..
The proposal remains subject to board and shareholder approvals.
Shares of the fiber optic component manufacturer declined 2% in recent trade.
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