News Article
Rubicon Technology announces stock repurchase programme
The programme authorises the company to repurchase shares of its common stock.
Rubicon Technology, a provider of sapphire substrates and products to the LED, RFIC, semiconductor, and optical industries, announced that the company's board of directors has authorised a stock repurchase programme to purchase up to $15,000,000 of common stock over a period of two years.
The stock repurchase programme authorises the company to repurchase shares of its common stock in the open market at times and prices considered appropriate by the company depending upon prevailing market conditions and other corporate considerations. Rubicon currently has 21,279,692 common shares outstanding.
“The stock repurchase programme is a reflection of the company's strong financial position and ongoing commitment to increasing shareholder value,” said Raja Parvez, CEO of Rubicon Technology. "We believe that, at current price levels, Rubicon’s shares are an attractive investment, and our repurchase programme reflects our continuing confidence in our market position and prospects for the future.”
The stock repurchase programme authorises the company to repurchase shares of its common stock in the open market at times and prices considered appropriate by the company depending upon prevailing market conditions and other corporate considerations. Rubicon currently has 21,279,692 common shares outstanding.
“The stock repurchase programme is a reflection of the company's strong financial position and ongoing commitment to increasing shareholder value,” said Raja Parvez, CEO of Rubicon Technology. "We believe that, at current price levels, Rubicon’s shares are an attractive investment, and our repurchase programme reflects our continuing confidence in our market position and prospects for the future.”