China GrenTech to buy back shares
China GrenTech Corp. Ltd (Nasdaq: GRRF), a China-based wireless coverage products and services provider and radio frequency technology developer, reported this morning that it will commence a share repurchase program for up to $8 million worth of its issued and outstanding American Depositary Shares.
China GrenTech said it plans to fund the share repurchases from available working capital.
Shares of China GrenTech (GRRF) gained $0.71, or 8.71%, to $8.86 late Friday morning.
