Chongqing Iron & Steel Co., Ltd. Class H (HK:1053) has released an update.
Chongqing Iron & Steel Co., Ltd. has reported progress in its share repurchase initiative, disclosing the buyback of 66.8385 million A shares, accounting for 0.749% of its total share capital, with funds totaling RMB69.7525 million. These repurchases follow the company’s previously approved plan to use its own funds for equity incentives, within a six-month period and a budget of RMB50 to 100 million. The company underscores that all transactions adhere to relevant laws and guidelines and commits to ongoing transparency with investors regarding market-driven repurchase timings.
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