Powertech Industrial Co., Ltd. announces an Equity Buyback for 5,000,000 shares, representing 4.84% for TWD 666.48 million.
January 23, 2017 at 03:19 pm IST
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Powertech Industrial Co. Ltd. (TSEC:3296) announces a share repurchase program. Under the plan, the company will repurchase up to 5,000,000 shares, representing 4.84% of its issued share capital for TWD 666.48 million. Repurchases will be made at a price that is within the range of TWD 9.6 and TWD 20.1 per share, repurchases will continue even when the share price is lower than the lower bound of the price range. Shares will be repurchased from centralized securities exchange. Shares repurchased will be cancelled. The purpose of the program is to maintain company's credit and protection of the interests of shareholders. The program will continue until March 23, 2017. As of January 23, 2017, the company has no shares in treasury.
POWERTECH INDUSTRIAL CO., LTD. is a Taiwan-based company principally engaged in the manufacture and distribution of power protectors. The Company provides electronic circuit power protectors, including line cord plug in products, wall plug products and power control centers, as well as smart household wireless remote control products, including lighting control products, wireless motion sensors and security remote systems. Its products are applied in the computers, communication products, consumer electronics, prevision electronic instruments, audio products, digital televisions, household electrical appliances and others. The Company mainly distributes its products to the United States, Australia and others.
POWERTECH INDUSTRIAL CO., LTD. 
