Inno Laser Technology Co., Ltd. commences an Equity Buyback for CNY 10 million worth of its shares, under the authorization approved on June 1, 2022.
July 19, 2022 at 01:02 am IST
Share
Inno Laser Technology Co., Ltd. (SZSE:301021) commences share repurchases on July 15, 2022, under the program mandated by the shareholders in the Extraordinary General Meeting held on June 1, 2022. As per the mandate, the company is authorized to repurchase its shares for a total of CNY 10 million. The shares will be purchased at a price not exceeding CNY 38.88 per share. The purpose of the program is to stabilize the stock price and safeguard the interests of the majority of investors. The repurchased shares will be cancelled thereby reducing the registered capital. The program will be funded from company's own funds. The program will be valid for 3 months from the date of the shareholder's meeting.
On August 25, 2022, the company announced that it has adjusted its share repurchase price CNY 38.88 from CNY per share to CNY 61.81 per share.
Inno Laser Technology Co Ltd is a China-based company principally engaged in the research and development, production and sales of micro-machining lasers and customized laser modules. The Company's laser products include DPSS (Diode Pumped Solid State) lasers (nanosecond solid-state lasers), ultrashort pulse lasers (ultrafast lasers, including picoseconds and femtoseconds), and MOPA (Master Oscillator Power-Amplifier) nanosecond/sub-nanosecond lasers (MOPA fiber lasers). The Company distributes its products both in the domestic market and to overseas markets.
INNO LASER TECHNOLOGY CO., LTD. 
