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COSCO SHIPPING Holdings initiates A-share buyback program

April 9, 2025 at 05:12 PM UTCBy FilingReader AI

COSCO SHIPPING Holdings (SSE:601919) announced the commencement of its A-share buyback program on April 9, 2025, following board approval on April 8, 2025. The company repurchased 2,657,600 A-shares through the Shanghai Stock Exchange at prices ranging from CNY 13.06 to CNY 13.44 per share, totaling CNY 35,234,086 (excluding transaction costs). This buyback, authorized by shareholders at the 2023 Annual General Meeting held May 29, 2024, is intended to safeguard the company’s value and shareholder interests. The buyback is limited to A-shares, as well as H-shares tradable on the Hong Kong United Exchange. The company intends to utilize its own funds to repurchase shares amounting to between CNY 741.5 million and CNY 1.483 billion. The repurchased shares will be cancelled and reduce registered capital. COSCO SHIPPING Holdings is also notifying its creditors, who have the right to claim debt repayment or request corresponding guarantees within a specified period, following the announcement.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

SSE:601919Shanghai Stock Exchange
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