Cosco Shipping Holdings Co.,Ltd. (ASX: 601919) has announced a plan to repurchase its A-shares through centralized trading on the exchange.
The company intends to buy back between 50 million and 100 million A-shares.
Based on the maximum repurchase price of RMB 15.40 per share, the total amount involved in the buyback is estimated to be between RMB 770 million and RMB 1.54 billion.
The repurchase is deemed necessary to safeguard the company's value and the interests of its shareholders.
All shares repurchased under this program will be cancelled, leading to a reduction in the company's registered capital.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments