Focus Taiwan
Date: 03/14/2020
By: Jeffrey Wu, Liu Pei-cheng and Frances Huang

Taipei, March 14 (CNA) Acer Inc., one of the leading PC brands in Taiwan, is buying back its own shares on the open market in a bid to bolster its share price, as the global markets are being battered by escalating fears over the COVID-19 coronavirus disease.

In a statement released Thursday after the close of trade on the local equity market, Acer said the share buyback would last over 35 trading sessions, from March 13 to May 5.

During that period, the company said, it will buy back up to 230 million common shares at a price of NT$10.05 (US$0.33) to NT$13.50.

If the company's share price falls below that range, the buyback program will continue past May 5, Acer said.    [FULL  STORY]