Taiheiyo Cement has provided an update on the share repurchase scheme that was agreed by the board of directors on 25 October 2016.
The company repurchased 10.705 million shares in December at a cost of JPY3.941 billion. Shares were repurchased through the Tokyo Stock Exchange.
The December repurchases brings the total number of share repurchased to 22.911 million at a total repurchase cost of JPY7.868 billion.
Under the repurchase scheme agreed by the board, the company will buy back up to 35 million shares at no more than JPY10 billion.
Since announcing the buy back plan, shares in Taiheiyo have risen steadily from JPY282 per share to JPY388 per share on 11 January.
Read the article online at: https://www.worldcement.com/asia-pacific-rim/11012017/taiheiyo-cement-continues-share-buyback-scheme/