Cathay Biotech announced that CIB, the controlling shareholder of the company, proposed that the company use its own funds to repurchase some of the RMB common shares already issued by the company through centralized bidding transactions through the Shanghai Stock Exchange trading system. The total repurchase capital shall not be less than RMB 10 million, not more than RMB 20 million, and the repurchase price shall not exceed 150% of the average trading price of the company's shares in the 30 trading days before the board of directors passed the buyback resolution. The purpose of repurchasing shares is for employee stock ownership plans or equity incentives at an appropriate time in the future.

Zhitongcaijing · 10/16 08:57
Cathay Biotech announced that CIB, the controlling shareholder of the company, proposed that the company use its own funds to repurchase some of the RMB common shares already issued by the company through centralized bidding transactions through the Shanghai Stock Exchange trading system. The total repurchase capital shall not be less than RMB 10 million, not more than RMB 20 million, and the repurchase price shall not exceed 150% of the average trading price of the company's shares in the 30 trading days before the board of directors passed the buyback resolution. The purpose of repurchasing shares is for employee stock ownership plans or equity incentives at an appropriate time in the future.