Hang Xiao Steel Structure Co., Ltd. announces an Equity Buyback for 10,000,000 shares, for CNY 60.3 million.
April 28, 2022 at 07:08 am
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Hang Xiao Steel Structure Co., Ltd. (SHSE:600477) announces a share repurchase program. Under the program, the company will repurchase not more than 10,000,000 Class A shares for CNY 60.3 million. The shares will be repurchased at a price not more than CNY 6.03 per share. The repurchases will be funded using the company's own funds. The repurchased shares will be used for the employee stock ownership plan. The program will be valid for 12 months.
On July 2, 2022, the company amended its share repurchase program. The shares will be repurchased at a price not exceeding CNY 5.97 per share.
HANG XIAO STEEL STRUCTURE CO., LTD, formerly Zhejiang Hangxiao Steel Structure Co., Ltd., is a China-based company, principally engaged in the design, manufacture and installation of steel structure products. The Company's products include multi- and high-floor steel structure products, lightweight steel structure products, space steel structure products and construction materials. The Company is also engaged in the sales of real estate and property management businesses. It distributes its products within domestic market and to overseas markets.