Beijing Balance Medical Technology (SHA:688198) plans to repurchase shares worth between 50 million yuan and 100 million yuan, according to a Shanghai bourse filing on Thursday.
The company will buy back between 359,583 shares and 719,165 shares, which represents 0.26% to 0.52% of the company's total shares, within 12 months after the approval of the board of directors.
The maximum repurchase price will be 139.05 yuan per share.
The repurchased shares will be used for the company's employee stock ownership plan or equity incentives.
The medical device manufacturer's shares rose 1% during the morning trade.