BIWIN Storage Technology (SHA:688525) received approval from the board of directors to repurchase shares worth between 200 million yuan and 250 million yuan, according to a Shanghai bourse filing on Wednesday.
The semiconductor company will buy back between 427,132 and 533,914 shares, representing up to 0.11% of its share capital, at a maximum of 468.24 yuan per share.
The share buyback, which was originally proposed by Chairman Sun Chengsi, will be implemented within 12 months.
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