Wowprime Corp's (TPE:2727) board approved a plan to repurchase 1.50 million shares of treasury stock starting Aug. 10, at a price range of NT$170 to NT$280, according to a Thursday filing to the Taiwan stock exchange.
The restaurant operator's shares were up over 5% in Friday's trade.
The repurchased shares will be transferred to employees.
The company plans to repurchase its own stock from the centralized exchange market between Aug. 10 and Oct. 6.