Jiangsu Feymer Technology Co., Ltd. announces an Equity Buyback for CNY 100 million worth of its shares.
February 15, 2022
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Jiangsu Feymer Technology Co., Ltd. (SHSE:688350) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its A shares. The shares will be repurchased at a price not more than CNY 25 per share. The repurchased shares will be used for the employee stock ownership plans and equity incentives. The company will use its own fund to fund the repurchases. The authorization will be valid for a period of 12 months.
On May 13, 2022, the company announced that it has adjusted its repurchased price to CNY 24.60 per share.
Jiangsu Feymer Technology Co Ltd is a China-based company mainly engaged in the research, development, production and sales of water-soluble polymer products. The Company's main products include water-soluble polymers, functional monomers, membrane separation products, water treatment membranes and membrane application products. The Company's products are mainly used in water treatment, pulp and paper, water treatment, oil and gas mining, mineral processing, textile printing and dyeing, windbreak and sand fixation, agriculture, forestry and water conservation and other industries. The Company also provides external supplies of hydrogen, steam and electricity energy to businesses. The Company mainly conducts its businesses in domestic and overseas markets.