Billion Industrial Holdings Limited (SEHK:2299) commences share repurchases on May 30, 2024, under the program mandated by the shareholders in the Annual General Meeting held on May 27, 2024. As per the mandate, the company is authorized to repurchase up to 211,838,000 shares, representing 10% of its issued share capital. The purpose for the buyback is to enhance the net asset value per share and/or earnings per share.

The repurchases will be funded from the company?s legally available for such purpose in accordance with its memorandum and articles of association, the laws of the Cayman Islands, the listing rules and any other applicable laws. The authority shall expire at the earliest of the next Annual General Meeting, the date on which the next Annual General Meeting is required to be held or the date on which the authority is varied or revoked in a General Meeting. As of May 27, 2024, the company had 2,118,380,000 shares in issue.