Linkage Software's (SHA:688588) chairman, Zhang Baoquan, proposed repurchasing shares worth between 30 million yuan and 50 million yuan, a Friday disclosure on the Shanghai Stock Exchange said.
The Chinese software developer will buy back shares for up to 9.6 yuan apiece within 12 months after the approval of its board of directors.
The repurchased shares will be used for employee stock ownership plans or equity incentives, the filing added.
Shares of the company slipped more than 1% in recent trade.
Price (RMB): ¥6.76, Change: ¥-0.080, Percent Change: -1.17%
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