Zhejiang Supor Co., Ltd. announces an Equity Buyback for 16,173,570 shares, for CNY 885.99 million.
May 06, 2022 at 12:00 pm EDT
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Zhejiang Supor Co., Ltd. (SZSE:002032) commences share repurchases on May 6, 2022, under the program mandated by the shareholders in the Annual General Meeting held on April 25, 2022. As per the mandate, the company is authorized to repurchase not more than 16,173,570 shares. The shares will be purchased at a price not exceeding CNY 56.03 per share. The program will be funded using the company's own funds. The repurchased shares will be used to implement a restricted stock incentive plan, to reduce the registered capital and will be cancelled. The program will be valid for a period of 12 months from the time when the plan is approved at the general meeting of shareholders.
On December 6, 2022, the company announced that it has amended its share repurchase program. Under the program, the repurchase price has been adjusted from CNY 56.03 per share to CNY 54.78 per share.
Zhejiang Supor Co, Ltd. is the second largest cooker manufacturer in the world and China's leading manufacturer of small household appliances. Products include induction hobs, hoods, gas cookers, steam ovens, pressure cookers, steam cookers, milk machines, juice extractors, woks, frying pans, pots, kettles, thermos flasks, spatulas, crisper pans, knives, slow cookers, air purifiers, irons, dust cleaners, etc.
At the end of 2018, the group operates 5 production sites in China.
ZHEJIANG SUPOR CO., LTD. 
