Shenzhen HeungKong Holding Co.,Ltd announces an Equity Buyback for 50,936,721 shares, representing 1.7% for CNY 145.17 million.
May 13, 2021
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Shenzhen HeungKong Holding Co.,Ltd (SHSE:600162) announces a share repurchase program. Under the program, company will repurchase up to 50,936,721 shares, representing 1.7% of its issued capital. The shares will be repurchased at a price not more than CNY 2.85 per share. The shares repurchased will be used for equity incentive plan or ESOP or for conversion of corporate bonds issued by the company which are convertible to shares. The program will be valid for 12 months.
Shenzhen Heungkong Holding Co Ltd is a China-based company principally engaged in urban industrial development, commercial circulation and home furnishing store operations. The Company operates its businesses through three segments. The Commercial Housing, Shops and Office Building Sales segment is mainly engaged in real estate development, focusing on the development of urban industries. The Commercial Circulation Operation segment mainly includes the development and operation of commercial circulation markets and home furnishing stores. The Other segments mainly include property services and other businesses.