Shanghai jinqiao export processing zone development (600639.SH) announced that the company plans to spend between 0.125 billion yuan and 0.25 billion yuan to repurchase shares...
According to Zhichun Finance APP, Shanghai jinqiao export processing zone development (600639.SH) announced that the company plans to spend between 0.125 billion yuan and 0.25 billion yuan to repurchase shares, with a repurchase price not exceeding 12.8 yuan/share. The purpose of the share buyback is to maintain the company’s value and protect the rights and interests of shareholders.
Sources of funds for share buyback: 1. Own funds not exceeding 75 million yuan; 2. Borrowings from financial institutions, with a maximum borrowing limit for the share buyback expected to be 0.175 billion yuan. After the People's Bank of china, the financial regulatory authority, and the china securities regulatory commission issued the 'Notice on the establishment of stock buyback shareholding loans,' the company negotiated borrowing matters with related commercial banks. On November 7, 2024, the company received a 'Loan Commitment Letter' from the Shanghai Branch of Agricultural Bank of china Limited, which will provide financing support for the company to repurchase its shares. The company will sign a loan agreement for stock buyback.
