Shanghai Electric Announces A Share Repurchase Plan

Shanghai Electric Group Company ( (HK:2727) ) just unveiled an announcement.

Shanghai Electric Group Company Limited announced a plan to repurchase A shares through centralized price bidding, with the aim of reducing its registered capital. The repurchase amount is set between RMB150 million and RMB300 million, with a maximum price of RMB12.29 per share. This strategic move is intended to preserve the company’s value, protect shareholder interests, and support its long-term sustainable development. The plan, approved by the board, will be submitted for consideration at the general meeting and relevant class meetings, with the repurchase period set within three months from approval.

More about Shanghai Electric Group Company

Shanghai Electric Group Company Limited is a joint stock limited company incorporated in the People’s Republic of China, operating primarily in the manufacturing and engineering industry. The company focuses on producing and providing a wide range of electrical equipment and services, catering to various sectors including energy, industrial equipment, and transportation.

YTD Price Performance: -4.71%

Average Trading Volume: 195,152

Technical Sentiment Signal: Sell

Current Market Cap: $12.9B

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