STO Express to Spend CNY 300 Mn to Repurchase its Shares
On September 22 news, STO Express announced that it plans to use CNY 200 million to CNY 300 million to repurchase approximately 0.8% of the company's total share capital. The price of the repurchased shares will not exceed 24.50. Yuan/share.
STO Express stated that the source of funds for the share repurchase was the company's own funds. The shares repurchased this time will be used in equity incentive plans or employee stock ownership plans. If the company fails to implement the above-mentioned purposes within three years, according to law the shares will be cancelled within three years.
This text is a result of machine translation.
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