Hangcha Group Co., Ltd announces an Equity Buyback for CNY 200 million worth of its shares.
June 15, 2022
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Hangcha Group Co., Ltd (SHSE:603298) announces a share repurchase program. Under the program, the company will repurchase up to CNY 200 million worth of class A shares. The shares will be repurchased at a price of not more than CNY 20.95 per share. The repurchased shares will be used to convert the corporate bonds issued by the listed company that can be converted into shares, and will be transferred or cancelled within three years after the announcement of the repurchase results. The program will be funded out of the company's own funds. The program will be valid till 12 months.
On February 23, 2023, the company announced that it has adjusted its repurchase price from CNY 20.95 per share to CNY 30.85 per share.
Hangcha Group Co.,Ltd. is a China-based company principally engaged in the research, development, manufacture and distribution of forklifts and other industrial vehicles. The Companyâs products mainly include combustion forklifts, electric forklift and other industrial vehicles. Its products are applied in the fields of manufacture industry, transportation industry, warehousing industry, postal industry, wholesale and retail industry. The Company distributes its products within domestic market and to overseas markets, including Brazil, America, Russia, as well as Southeast Asia, among others.