Giant Interactive Group Inc announced that its Board of Directors has approved a new share repurchase plan. Under this plan, Giant is authorized to repurchase up to USD50 million of its American Depositary Shares, or ADSs, over the next twelve months, from time to time, in open-market purchases on the NYSE Euronext at prevailing market prices, in trades pursuant to a Rule 10b5-1 repurchase plan, or otherwise, in accordance with applicable federal securities laws, including the anti-manipulation provisions of Rule 10b-18, promulgated under the U.S. Securities Exchange Act of 1934, as amended. The timing and extent of any purchases will depend upon market conditions, the trading price of Giant's ADSs and other factors, including customary restrictions on share repurchases. The repurchase program does not obligate Giant to make repurchases at any specific time or situation. 

Source:Reuters