BIWIN Unveils Share Repurchase Plan Worth 200-250 Million RMB
15 hour ago / Read about 0 minute
Author:小编   

BIWIN has made public its intention, as proposed by its controlling shareholder, de facto controller, and chairman, Sun Chengsi, to buy back company shares via centralized bidding transactions. The overall repurchase sum is projected to range from 200 million RMB to 250 million RMB, with the highest repurchase price capped at no more than 150% of the mean trading price of the company's shares over the preceding 30 trading days before the board's assessment of the repurchase proposal. All shares repurchased will be earmarked for cancellation, thereby diminishing the company's registered capital. The repurchase window is set within 12 months following the plan's endorsement by the shareholders' meeting. The company's board deems the proposal viable and will delve into crafting a detailed repurchase strategy, with the ultimate terms hinging on the plan ratified by both the board and the shareholders' meeting.