China Coal Energy's Major Shareholder Announces Up to RMB100 Million Buyback of A-Shares

Stock News07-20

An announcement has been issued by China Coal Energy Company Limited (601898) regarding a planned share purchase by its controlling stakeholder. The company's majority shareholder, China Coal Energy Group Co., Ltd., has notified the company of its intention to increase its holdings of the company's A-shares.

The buyback program is scheduled to commence following the disclosure of this announcement and will continue for a period of twelve months. The purchases will be executed through the Shanghai Stock Exchange, utilizing methods such as centralized bidding and block trades.

The total amount earmarked for this share acquisition is set at a minimum of RMB 50 million, with a maximum cap of RMB 100 million. Furthermore, the number of shares to be purchased will not exceed 2% of the company's total issued share capital.

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