Milkyway Chemical Supply Chain Service Co.,Ltd announces an Equity Buyback for CNY 50 million worth of its shares.
March 28, 2023
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Milkyway Chemical Supply Chain Service Co., Ltd. (SHSE:603713) announces a share repurchase program. Under the program, the company will repurchase up to CNY 50 million worth of its A shares. The shares will be repurchased at a price of not more than CNY 150 per share. The company will use its own funds to repurchase shares. The repurchased shares will be used for employee stock ownership plans or equity incentives, If the company fails to use up the repurchased shares within 36 months after the completion of the share repurchase, the unused repurchased shares will be cancelled. The program will be valid for a period of 3 months.
On May 16, 2023, the company announced that it adjusted the Price Limit of repurchased shares after the implementation of Equity Distribution in 2022. The upper limit of repurchase price after adjustment will be no more than CNY 149.45 per share.
Milkyway Intelligent Supply Chain Service Group Co Ltd, formerly as Milkyway Chemical Supply Chain Service Co Ltd is a China-based company which is mainly engaged in the provision of chemical supply chain services. The Company mainly provides one-stop integrated logistics services with freight forwarding, warehousing and transportation as the core for domestic and foreign chemical production enterprises and chemical consumer enterprises, including transportation, warehousing, freight forwarding, distribution, logistics processing, information services and others. The Company also provides chemical supply chain services for low-risk products such as paints, pesticides, polyurethane materials, electronic chemicals, lithium batteries, dyes and others. The Company provides its services in domestic market and to overseas markets.
MILKYWAY CHEMICAL SUPPLY CHAIN SERVICE CO.,LTD 
