China In-Focus: China GrenTech Authorizes $7 Million Buyback
June 4, 2009 (FinancialWire) — China GrenTech Corp. Ltd.’s (NASDAQ: GRRF) (Current Market Cap: US$3.54 Mil.) board has approved a share repurchase program under which China GrenTech may repurchase up to $7.0 million worth of its issued and outstanding American depositary shares in open-market transactions on the Nasdaq.
The program does not have an expiration date. A previous share repurchase program that was approved by the China GrenTech board on September 21, 2007 will be superseded by the new one.
Shenzhen, China-based GrenTech is a developer of radio frequency technology in China and a provider of wireless coverage products and services in China. The company uses RF technology to design and manufacture wireless coverage products, which enable telecommunication operators to expand the reach of their wireless communication networks to indoor and outdoor areas, such as buildings, highways, railways, tunnels and remote regions.
GrenTech’s wireless coverage services include design, installation and project warranty services.
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