China Grand Automotive Services Group Co.,Ltd (SHSE:600297) announces a share repurchase program. Under the program, the company will repurchase up to CNY 150 million worth of its A shares. The shares will be repurchased at a price not more than CNY 2.95 per share.
The repurchased shares will be used for company?s convertible bonds. The authorization will be valid for a period of 6 months.