TOA Paint (Thailand) Public Company Limited (SET:TOA) announces a share repurchase program. Under the program, the company will repurchase up to 60,000,000 shares, representing 2.96% of its issued share capital, for THB 1,500 million. The repurchase price shall not exceed 115% of the average closing price of the 5 consecutive business days prior to each repurchase date.

The purpose of the program is To manage the company?s excess liquidity, to increase the return on equity (ROE) and the earning per share (EPS) and to build confidence among investors or shareholders. Shares repurchased will be resold or cancelled. The program is valid till May 17, 2024.

As of November 7, 2023, the company had 2,029,000,000 shares outstanding.