SICC Controller Proposes RMB 50 Million to RMB 80 Million Buyback of A-Shares

Stock News11-03 18:32

According to an announcement released by SICC Co., Ltd. (688234.SH), the company's controlling shareholder, actual controller, chairman, and general manager Zong Yanmin has proposed that the company use the excess funds raised from its initial public offering of RMB ordinary shares or its own funds to repurchase part of its already-issued RMB ordinary shares (A-shares) through the centralized bidding trading method on the Shanghai Stock Exchange trading system.

The repurchased shares are intended to be used for the company's equity incentive plan, employee stock ownership plan, or to reduce the company's registered capital.

The total amount of funds for the share repurchase shall be no less than RMB 50 million (inclusive) and no more than RMB 80 million (inclusive).

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