Tianjin You Fa Steel Pipe Group Stock Co., Ltd. (SHSE:601686) announces a share repurchase program. Under the program, the company will repurchase 14,389,600 ordinary class A shares, for ¥212 million. The shares will be repurchased at a price of not more than CNY 14.72 per share.
The program will be financed out of the company's own funds. The repurchased shares will be used for implementing employee stock ownership plans or equity incentive plans. The program will run until 12 months.