Jointown Pharmaceutical Group Co., Ltd. commences an Equity Buyback Plan for 40,000,000 shares, representing 2.13% for CNY 600 million, under the authorization approved on July 26, 2019.
August 07, 2019
Share
Jointown Pharmaceutical Group Co., Ltd. (SHSE:600998) commences share repurchases on August 7, 2019, under the program mandated by the shareholders in the Annual General Meeting held on July 26, 2019. As per the mandate, the company is authorized to repurchase up to 40,000,000 A shares, representing 2.13% of its issued share capital, for total worth of CNY 600 million. The shares will be repurchased at a price of CNY 15 per share. The purpose of the share repurchases is to implement the equity incentive plan. The share repurchases will be self-funded by the company. The plan is valid for 6 months since approval from the shareholders’ meeting of the company.
Jointown Pharmaceutical Group Co., Ltd. is principally engaged in the wholesaling and retailing of pharmaceuticals and medical equipments. The Company is also engaged in the research, development and production of drugs, as well as the provision of relevant value-added services. The Companyâs products mainly include western medicines, proprietary Chinese medicines, Chinese medicine pieces, Chinese herbal medicines, medical equipments, health care products, cosmetics, among others. The Company mainly provides services to direct sales or franchise stores through its retailing businesses.
Jointown Pharmaceutical Group Co., Ltd. commences an Equity Buyback Plan for 40,000,000 shares, representing 2.13% for CNY 600 million, under the authorization approved on July 26, 2019.
JOINTOWN PHARMACEUTICAL GROUP CO., LTD 
