Jiangsu Lopal Tech (SHA:603906, HKG:2465) plans to cancel about 2.1 million previously repurchased shares, according to a Hong Kong bourse filing Tuesday.
Hong Kong-listed shares of the firm were down nearly 2% in late morning trade Wednesday.
The shares were previously earmarked for the company's employee stock ownership plan, but will now be cancelled to reduce Lopal Tech'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