Guotai Haitong Securities (HKG:2611, SHA:601211) intends to repurchase A shares worth between 1 billion yuan and 2 billion yuan, according to a Wednesday filing with the Hong Kong bourse.
The shares will be purchased within three months at up to 26.35 yuan apiece through centralized price bidding, the filing said.
The securities brokerage's buyback program will be used to "safeguard the value of the company and the interests of shareholders."
Shares in the brokerage increased 3% in Shanghai and 2% Hong Kong during Thursday's afternoon trading.
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