Arrow Home Group (SHE:001322) plans to repurchase shares worth between 50 million yuan and 100 million yuan, according to a Shenzhen Stock Exchange disclosure on Tuesday.
The Chinese intelligent bathroom developer will buy back between nearly 4 million shares and 7.9 million shares for up to 12.62 yuan each within 12 months after the board of directors' approval.
The repurchased shares will be used for the company's equity incentive plans or employee stock ownership plans, the disclosure said.
The company's shares closed less than 2% higher.
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