Zhengzhou Coal Mining secures loan for share repurchase
Zhengzhou Coal Mining Machinery Group (SSE: 601717) announced it has received a loan commitment letter from China CITIC Bank's Zhengzhou branch to finance its ongoing A-share repurchase program. The commitment provides a loan facility of up to RMB 170 million, with a term not exceeding 36 months. The funds are specifically designated to support the company's repurchase of A-shares, with the intention of using the repurchased shares for future equity incentives or employee stock ownership plans. The repurchase program, approved on March 12, 2025, aims to repurchase shares via centralized bidding, with a total budget ranging from RMB 500 million to RMB 600 million, at a price not exceeding RMB 17.00 per share. The repurchase period is six months from the date of the board's approval. The company will open a special securities account for the repurchase.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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