UniTTEC (SHE:000925) plans to repurchase shares worth between 42.5 million yuan and 85 million yuan, according to a Shenzhen Stock Exchange disclosure on Tuesday.

The Chinese rail transit company will buy back 3.4 million shares to 6.8 million shares for up to 12.46 yuan per share.

The buyback will be implemented 12 months from the date of the board of directors' approval.

The repurchased shares will be used for the company's equity incentive plan or employee stock ownership plan, the disclosure said.