Altek to repurchase 5.55% shares
Digital camera ODM Altek has announced a plan to repurchase 15 million shares, or 5.55%, of its stock, at a price interval of NT$20-30 (US$0.61-0.92) per share during September 9-November 8.Altek has also decided to transfer its medical electronics business unit to its wholly owned subsidiary Altek Biotechnology, with the transfer to be finished on January 4, 2016.
Altek will acquire 40 million new shares of the subsidiary for the transfer.Altek posted consolidated revenues of NT$1.446 billion for August, the highest monthly level since May 2014 with growth of 25.87% on month and of 8.25% on year. Its consolidated revenues for January-August totaled NT$8.199 billion, decreasing 25.85% on year.
Source: Altek to repurchase 5.55% shares