Wednesday, WSP Holdings Limited (WH), a Chinese manufacturer of API or American Petroleum Institute and non-API seamless casing, tubing and drill pipes used in oil and natural gas exploration, drilling and extraction (Oil Country Tubular Goods or OCTG), and other pipes and connectors, announced that its Board of Directors has approved a share repurchase program.
Under the program, WSP Holdings said it is authorized to repurchase up to $10 million of outstanding American Depositary Shares or ADSs, each representing two ordinary shares of the company, from time to time over the next six months. These repurchases will be in compliance with the SEC's Rule 10b-18, subject to market conditions, share price, applicable legal requirements and other factors.
The company said that the share repurchase will be made in the open market or through privately negotiated transactions. This plan does not obligate the company to acquire any particular number of ADSs and the program may be suspended or discontinued at any time.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.