Sinochem Equipment Technology Qingdao (SHA:600579) asked creditors to settle their debts starting Friday before its share buyback plan, according to a Shanghai bourse filing on the same day.
Creditors are allowed to submit debt claims until Aug. 4.
The machinery and equipment manufacturer plans to repurchase 795,089 shares, or 0.16% of the company's total share capital, for up to 9.8 million yuan.
After the share buyback, the company's registered capital will be reduced to 493.9 million yuan from 494.7 million yuan.
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