Penyao Environmental Protection Co., Ltd. announces an Equity Buyback for CNY 300 million worth of its shares.
April 28, 2023 at 03:49 am EDT
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Penyao Environmental Protection Co., Ltd. (SZSE:300664) announces a share repurchase program. Under the program, the company will repurchase not more than CNY 300 million worth of its shares. The shares will be repurchased at a price not more than CNY 8.25 per share. The purpose of share repurchase program is to maintain company value and shareholders rights. The program will be valid for not more than 3 months.
On June 14, 2023, the company announced that the share repurchase price will be adjusted from no more than CNY 8.25 per share to no more than CNY 8.10 per share.
Penyao Environmental Protection Co Ltd is a China-based company mainly engaged in environmental protection water treatment-related businesses. The Company's business mainly operates through five segments. Engineering Contracting segment is mainly engaged in the design, consulting, procurement, construction and other services of environmentally friendly water treatment facilities. Sewage Treatment segment is mainly engaged in municipal sewage treatment, township sewage treatment, industrial sewage treatment and other businesses. Water Supply Treatment segment is mainly engaged in municipal water supply and investment operations. Sludge Treatment segment is mainly engaged in disposal services and resource utilization of organic solid waste such as urban sludge and kitchen waste. Others segment is mainly engaged in other environmental protection-related operations and management services.