GCL Energy Technology Co.,Ltd. announces an Equity Buyback for CNY 1,000 million worth of its shares.
December 28, 2022 at 04:51 am EST
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GCL Energy Technology Co.,Ltd. (SZSE:002015) announces a share repurchase program. Under the program, the company will repurchase up to CNY 1,000 million worth of its shares. The company will repurchase its shares at a price of not more than CNY 20.85 per share. The repurchased shares will be used for equity incentives, employee stock ownership plans, or shares for the company?s convertible bonds. The program will be valid for 12 months.
On August 2, 2023, the company announced that after the 2022 equity distribution, the company adjusted the maximum repurchase price from not more than CNY 20.85 per share to not more than CNY 20.66 per share.
GCL Energy Technology Co Ltd, formerly Xiake Color Spinning Co Ltd, is a China-based company mainly engaged in power production. The Company's main businesses are clean energy power generation, cogeneration and integrated energy services, including gas turbine cogeneration, wind power generation, waste power generation, biomass power generation, coal-fired cogeneration and others. The Company mainly conducts its businesses in the domestic market.