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Byline: Busrin Treerapongpichit
Mar. 6--A.J. Plast Plc, a listed manufacturer of biaxially oriented polypropylene (Bopp) film, has earmarked 100 million baht to repurchase its shares in the stock market, saying its stock price has dropped below its fundamentals.
The company also plans to propose a dividend to shareholders of 60 percent of net profit for 2002 performance -- its first in 12 years of being listed on the SET.
President Narong Suthisamphat said the company's board recently approved the plan to buy back up to 30 million shares or 10 percent of total paid-up shares. The share par value is one baht.
The company's shares closed ...