Nam Tai Property Inc., the BVI-registered company working in the spheres of electronics manufacturing and design services, which in the end of April changed its name from Nam Tai Electronics, Inc., and changed trading symbol on the NYSE market to NTP, announced the beginning of a stock repurchase program. It was approved by company’s board of directors, and is aimed at purchasing back up to US$40 million of its common stocks in the open market, at the market prices.
The stock repurchase program will be executed in accordance with Securities and Exchange Commission requirements, the termination of the program is expected to take place on about 30 November 2014.
The actual number of stocks to be repurchased will depend upon market conditions and other factors.
