Fujian Green Pine Co.,Ltd. (SHE: 300132) has announced a proposal from its largest shareholder, North Bell (Hong Kong) Nonwoven Products Co., Ltd., for the company to repurchase a portion of its issued A-shares.
The proposal recommends using the company's own capital to conduct the repurchases through centralized bidding on the secondary market. The shares bought back are intended to be canceled, leading to a reduction in the company's registered capital.
The total amount allocated for the share repurchase program is proposed to be no less than RMB 30 million and no more than RMB 45 million.
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