BIWIN Storage Technology (SHA:688525) said Sun Chengsi, actual controller and chair, proposed a share repurchase plan of between 200 million yuan and 250 million yuan.
The shares will be bought back at up to 150% of the 30-day average trading price prior to shareholder and board approval, according to a Shanghai bourse filing on Friday.
Shares in the chip company declined 1% in recent trade.
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