Xinyuan Real Estate Co. Ltd. (XIN: Quote) said it had completed its $10 million share repurchase program originally announced on May 26, 2011. Through June 18, 2012, the company had bought back 4.5 million American Depositary Shares or "ADS" at a total cost of $10 million.
Further, the board has approved an additional $20 million share repurchase program effective immediately. This would be funded from available working capital.
The share buybacks under this program would be made through the open market, with the timing of purchases and the amount of stock purchased determined at the discretion of the company's management.
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by RTT Staff Writer
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