Compal Electronics has announced plans to repurchase as many as 100 million shares, or 2.26% of the company's outstanding shares, at between NT$25.65 (US$0.88) and NT$49.19 per share through June 7. The move is aimed at protecting corporate value and the interests of shareholders, the company said.

Compal shares closed flat at NT$28.50 on April 7. The price edged down from its previous high of NT$32.70 on March 25.

Compal's most recent stock repurchase program was carried out in 2008, when the global financial crisis hit. The company bought back about NT$1.29 billion in common stock.

Compal's notebook shipments may be affected by Acer's downward adjustment in its guidance for the first quarter, industry sources were quoted in previous reports. Compal saw shipments decline 18% sequentially to 2.7 million units in February.

In response, Compal spokesperson Gary Lu said the company will unveil its March results soon, and will provide its guidance for the second quarter at an upcoming investors meeting.

In addition, Lu revealed that Compal will begin shipping tablet PCs to customers starting March. Shipments will gradually expand later in 2011, Lu added.

Acer and Lenovo reportedly are among Compal's major clients.