Yunnan Shennong Agricultural Industry's (SHA:605296) chairman, He Zuxun, proposed to repurchase shares worth between 100 million yuan and 200 million yuan, according to a Tuesday disclosure on the Shanghai Stock Exchange.
The shares will be bought back within 12 months after the board of directors approves the proposal, the Chinese livestock company said.
The repurchased shares will be used for the company's employee stock ownership plans or stock options, the disclosure added.
The company's shares closed less than 4% higher.
Price (RMB): ¥30.21, Change: ¥+1.1, Percent Change: +3.67%
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