Baosteel Union completes share repurchase, announces cancellation

Inner Mongolia Baosteel Union (SSE:600010) announced the completion of its share repurchase program, initiated in April 2024, with the intention to reduce registered capital. The company repurchased 116,322,900 shares, representing 0.26% of the total share capital, at prices ranging from 1.38 yuan to 2.09 yuan per share. The total expenditure for the repurchase amounted to 199,000,947 yuan (excluding transaction costs). The repurchased shares will be canceled on March 5, 2025, following which the company will adjust its business registration. Post-cancellation, Baosteel Group, along with its concerted parties, will hold 25,345,875,837 shares, representing 55.97% of the total shares.