China Yuchai terminates share buyback program

China Yuchai (CYD) announced that its board has approved to terminate its share buyback plan with immediate effect. The share buyback plan was adopted on June 7, under which the company may repurchase its ordinary shares up to $40M in dollar amount or 4M in number, whichever occurs earlier. Accordingly, the company’s outstanding shares will be reduced from 40,858,290 to 37,518,322 upon the termination of the share buyback plan.