Asia - Pacific Investment JSC announces an Equity Buyback for 1,000,000 shares, representing 3.79% for VND 20,000 million.
May 29, 2015 at 02:29 am EDT
Asia - Pacific Investment JSC (HASTC:API) announces a share repurchase program. Under the program, the company will repurchase up to 1,000,000 shares, representing 3.79% of its outstanding shares. The shares will be purchased at market price but not higher than 20,000 dong per share. Such shares will be repurchased through order matching or agreement form on Hanoi Stock Exchange. The plan will be funded from the surplus share capital on March 31, 2015. The plan will be valid for 30 days after State Securities Commission of Vietnam approves the plan and the information is announced according to regulations of law.
On July 1, 2015, the company announced that it will repurchase the shares under the plan from July 8, 2015 till August 5, 2015. The purpose of the plan is to reduce the number of outstanding shares and using for other purpose.