Formosan Rubber Group Inc. (TWSE:2107) announces a share repurchase program. Under the program, the company will repurchase up to 5,000,000 shares, representing 1.46% of its issued share capital for the total worth of TWD 7,434.54 million. The shares will be repurchased within the price range of TWD 15 to TWD 24 per share.

The Purpose of the share repurchase program is to protect company reputation and shareholder equity. The repurchase program will expire on September 2, 2022.