Shanghai Haohai Biological Technology Co., Ltd. commences an Equity Buyback Plan for 3,882,210 shares, representing 2.2% of its issued share capital, under the authorization approved on June 11, 2021.
December 30, 2021 at 06:00 am EST
Share
Shanghai Haohai Biological Technology Co., Ltd. (SEHK:6826) commences share repurchases on December 30, 2021, under the program mandated by the shareholders in the Annual General Meeting held on June 11, 2021. As per the mandate, the company is authorized to repurchase up to 3,882,210 H shares, representing 10% of its class H shares and 2.2% of its total issued share capital. The repurchases will lead to an enhancement of the net asset value per share and/or earnings per share for the company. The shares repurchased will be cancelled. The repurchases will be made out of the funds legally available for such purpose in accordance with all applicable laws, regulations, rules and/or requirements of the Hong Kong Stock Exchange or any other relevant governmental or regulatory authorities in the PRC. The authority shall expire at the earliest of the next Annual General Meeting, the date on which the next Annual General Meeting is required to be held or the date on which the authority is varied or revoked in a General Meeting. As of June 11, 2021, the company had 176,622,100 shares in issue, comprising 137,800,000 A shares and 38,822,100 H shares.
Shanghai Haohai Biological Technology Co., Ltd. is a China-based company principally engaged in biological technology-related businesses. The businesses of the Company include the manufacture and sales of biological and medical hyaluronate, the research and development of biological engineering and pharmaceutical products and the provision of related services. Its products include orthopedics products, medical aesthetics and wound care products, ophthalmology products and anti-adhesion and hemostasis products, among others. Orthopedics products include sodium hyaluronate injection, medical chitosan and medical sodium hyaluronate gel. Medical aesthetics and wound care products include recombinant human epidermal growth factor (rhEGF), among others. Ophthalmology products include ophthalmic viscoelastic devices and lubricant eye drops. Anti-adhesion and hemostasis products include medical collagen sponges, among others. The Company mainly operates businesses in Mainland China.
Shanghai Haohai Biological Technology Co., Ltd. commences an Equity Buyback Plan for 3,882,210 shares, representing 2.2% of its issued share capital, under the authorization approved on June 11, 2021.