Reuters: Global Markets: JA Solar's buyback plan props up shares

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JA Solar's buyback plan props up shares Jun 14th 2012, 12:09 Thu Jun 14, 2012 8:09am EDT (Reuters) - JA Solar Holdings Co Ltd (JASO.O), which has lost nearly a third of its market value this year, said it could buy back up to $100 million of its shares before the end of September, sending the company's shares up 29 percent in premarket trade. China-based solar companies, including LDK Solar Co (LDK.N), Yingli Green Energy Holding Co (YGE.N) and ReneSola Ltd (SOL.N), have been buying back their shares amid a brutal selloff in the equities market. JA Solar shares, valued at about $409 million, rose to $1.20 on Thursday. The stock closed at $0.93 Wednesday on the Nasdaq.

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