Guangzhou Jointas Chemical Co., Ltd. announces an Equity Buyback for 10% of its issued share capital, for CNY 40 million.
November 30, 2021 at 09:30 pm IST
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Guangzhou Jointas Chemical Co., Ltd. (SZSE:002909) announces a share repurchase program. Under the program, the company will repurchase up to CNY 40 million worth of its common stock, not exceeding 10% of the total issued shares of the company. The shares will be repurchased at a purchase price of CNY 9.7 per share. The repurchases will be sourced from company's own funds. The shares repurchased will be used to implement employee stock ownership plans or stock incentives. The program will be valid for 6 months.
Guangzhou Jointas Chemical Co Ltd is a China-based company principally engaged in the research, development, production and sale of coatings and sealant products, as well as the provision of related services. The Company's main products include silicone sealants, water-based sealants, other sealants, asphalt paint and water-based paint. The Company's products are used in various areas, such as construction, home decoration, container manufacturing, steel structure manufacturing, petrochemical equipment and ship yacht equipment. The Company distributes its products mainly in domestic market.
GUANGZHOU JOINTAS CHEMICAL CO., LTD. 