Eurocrane Co., Ltd. announces an Equity Buyback for CNY 20 million worth of its shares.
September 11, 2020
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Eurocrane (China) Co., Ltd. (SHSE:603966) ) announces a share repurchase program. Under the program, the company will repurchase up to CNY 20 million worth of its ordinary shares (A shares). The shares will be repurchased at a price of CNY 24 per share. The share repurchases will be funded from company's own funds. The share repurchases will be used to implement the company's employee stock ownership plan. The program is valid for 12 months.
Eurocrane China Co Ltd is a China-based company mainly engaged in the research and development, manufacturing, sales and service of intelligent material handling solutions. The Company's main products include various types of aerial handling robots, European cranes, cable cranes, electric hoists, and full life cycle services for heavy-duty handling systems. The Company's products are used in energy equipment, rail transportation, papermaking, food processing, new energy vehicles, water conservancy and hydropower, national defense and military industry, ships, steel, environmental protection, clean energy, scientific research institutes and other sub-industries. The Company's products are sold in domestic and foreign markets.