ADATA plans to buy back 6,000 treasury shares after falling nearly 20% since October

Chen Libai, Chairman of ADATA (file photo)

[Reporter Lin Yiru/Taipei Report] Memory module factory ADATA (3260) announced today (9th) that the board of directors decided to buy back 6,000 treasury shares. The purpose of the buyback was to transfer the shares to employees. The buyback price range was 21 per share. 3.5 yuan to 532.2 yuan. The total buyback amount is expected to be capped at NT$3.152 billion. The shares scheduled to be bought back account for 1.68% of the total issued shares. The buyback period will be from November 10 to January 8 next year.

ADATA stated that it will buy back 6 million shares of common stock from the centralized trading market this time. If the stock price is lower than the lower limit of the buy-back range of 213.5 yuan, the buy-back will continue.

ADATA also announced in May this year that it would buy back 4,000 treasury shares, and actually bought back 2,197 shares, with an execution rate of 55%. In April last year, it announced that it would buy back 8,000 treasury shares, but actually bought back 7,763 shares, with an execution rate of 97%.

Taiwan stocks have plummeted recently, and ADATA's stock price has also continued to fall. After opening high today, the gains have converged, and it closed at 305 yuan, a slight increase of 1.84%. The cumulative band decline since October this year has reached 19%.