Guangdong Dongpeng to Buy Back Shares of Up to 200 Million Yuan

MT Newswires Live11-19 15:27

Guangdong Dongpeng Holdings (SHE:003012) plans to repurchase shares worth between 100 million yuan and 200 million yuan, according to a Shenzhen Stock Exchange filing on Tuesday.

Each share will be priced up to 9.08 yuan and will be bought back within 12 months after the board of directors' approval.

The repurchased shares will be used for the company's employee stock ownership plan or equity incentive.

The Chinese ceramic tile product manufacturer will receive a one-year loan of up to 140 million yuan from Industrial and Commercial Bank of China's (HKG:1398, SHA:601398) Guangdong branch to fund the buyback scheme, the filing added.

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