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Anfu Battery Plans Share Buyback of Up to 150 Million Yuan

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Anhui Anfu Battery Technology (SHA:603031) plans to repurchase shares worth between 100 million yuan and 150 million yuan to protect shareholder interests after its stock price dropped, according to a Shanghai bourse filing on Thursday.

The Chinese battery manufacturer's stock price dropped 20% in more than 20 straight trading days.

The company will buy back between 1.3 million and almost 2 million shares for up to 76.64 yuan per share through centralized bidding within three months after the board of directors' approval.

The company's shares dropped 5% at the close.

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