CNNC Hua Yuan Titanium Dioxide Co., Ltd commences an Equity Buyback Plan for CNY 1,000 million worth of its shares, under the authorization approved September 26, 2023.
December 25, 2023 at 04:00 pm
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CNNC Hua Yuan Titanium Dioxide Co., Ltd (SZSE:002145) commences a share repurchase on October 20, 2023, under the program mandated by the shareholders in the Temporary Meeting held on September 26, 2023. As per the mandate, the company is authorized to repurchase up to CNY 1,000 million worth of its shares. The shares will be repurchased at a price not more than CNY 7.8 per share. The repurchased shares will be used for employee stock ownership plans or equity incentives, and conversion of corporate bonds issued by the company that can be converted into shares. The program will be valid for 3 months.
On May 22, 2024, the company announced that it has adjusted its repurchase price from CNY 8 per share to CNY 7.75 per share.
CNNC HUA YUAN TITANIUM DIOXIDE CO., LTD is a China-based company, principally engaged in the research and development, production and distribution of rutile titanium dioxide and iron oxide pigments. Its titanium dioxide is applied in coatings, plastics, rubber, ink, chemical fibers, paper, cosmetics and other fields. Its iron oxide pigments are applied in building materials, coatings, inks, plastics, ceramics, paper, magnetic recording materials and other industries. The Company distributes its products in both domestic market and to overseas markets.
CNNC Hua Yuan Titanium Dioxide Co., Ltd commences an Equity Buyback Plan for CNY 1,000 million worth of its shares, under the authorization approved September 26, 2023.