Delton Technology (Guangzhou) (SHE:001389, HKG:1989) plans to repurchase shares for 100 million yuan to 200 million yuan, according to a Shenzhen bourse filing on Thursday.
The printed circuit board manufacturer will buy back between 421,940 and 843,880 shares, or 0.09% to 0.18% of the company's total shares, for up to 237 yuan per share.
The share buyback will be implemented through centralized bidding within 12 months after the board of directors' approval. The repurchased shares will be used for an equity incentive plan or an employee stock ownership plan.
The company's shares dropped 8% during the afternoon trade.
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