AAC Technologies Holdings (HKG:2018) launched a HK$778 million automatic share buy-back program, equal to $100 million, utilizing an independent broker to execute the buy-backs on their behalf, according to a Monday filing with the Hong Kong Stock Exchange.
The program will continue until May 16, 2025, unless the set targets are achieved earlier, leading to an early termination. The program intends to optimize the buy-back process by operating during restricted periods with a waiver from compliance rules.
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