TAIPEI, Taiwan － The resolution of HTC Board of Directors on 14th May, that will repurchase HTC share to arrange for the cancellation of shares.
According to the HTC, Taiwanese smartphone maker, announcement, this movement is aim to maintain the Company's credit and protect the interest of shareholders. The schedule of the repurchase period is from 16th May to 15th July in 2016. The number of shares to be repurchased will amount to 40,000,000 shares and Tte buyback price range is based on +/- 20% of the closing price on May 13, 2016 (NT$58)
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Htc just reported its 2016Q1 results last Monday that its first quarter sales plummeted 64% to roughly $455 million—its fourth straight quarterly decline. Recently, its first virtual-reality (VR) headset, the HTC Vive, has been launched and its pre-order sales reportedly sold out in 10 minutes.
HTC saw its share price close at NT$58 on last Friday, fell below NT$60 and reached the lowest value since last September.
