Zhejiang Rongsheng Environmental Protection Paper Joint Stock Co., Ltd. commences an Equity Buyback Plan for CNY 120 million worth of its shares, under the authorization approved on March 29, 2024.
May 13, 2024 at 05:00 pm
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Zhejiang Rongsheng Environmental Protection Paper Joint Stock Co., Ltd. (SHSE:603165) commences share repurchases on May 13, 2024, under the program mandated by the shareholders in the Annual General Meeting held on March 29, 2024. As per the mandate, the company is authorized to repurchase up to CNY 120 million worth of its shares. The repurchase price will not more than CNY 15.52 per Share. The repurchased shares will be used to reduce the company's registered capital; or for employee stock ownership plans or equity incentives; or to convert company convertible bonds; or to maintain company value and shareholder rights. The repurchases will be funded using company's own funds. The repurchase period will be not more than 12 months. As of March 10, 2024, the company had 278,431,936 shares outstanding.
On May 8, 2024, the company amended its share repurchase program. The shares will be repurchased at a price not exceeding CNY 15.04 per share.
Zhejiang Rongsheng Environmental Protection Paper Joint Stock Co Ltd is a China-based company mainly engaged in the production of recycled packaging paper. The Company's main business is the production of recycled packaging paper, integrating waste paper recycling, combined heat and power generation, recycled environmentally friendly paper production, and cardboard manufacturing. The Company's main products include corrugated base paper, kraft board, high-density paperboard, corrugated board and steam. The Company mainly operates its businesses in the domestic market.
Zhejiang Rongsheng Environmental Protection Paper Joint Stock Co., Ltd. commences an Equity Buyback Plan for CNY 120 million worth of its shares, under the authorization approved on March 29, 2024.
ZHEJIANG RONGSHENG ENVIRONMENTAL PROTECTION PAPERCO., LTD. 
