Xiangyu Medical Co.,Ltd announces an Equity Buyback for CNY 160 million worth of its shares.
April 11, 2022 at 04:57 pm IST
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Xiangyu Medical Co.,Ltd (SHSE:688626) announces a share repurchase program. Under the program, the company will repurchase CNY 160 million worth of its A shares. The shares will be repurchased at a price of not more than CNY 57.80 per share. The repurchased shares will be used for ESOP or equity incentives. The shares will be repurchased out of own funds of the company. The plan will be valid for 12 months.
On July 1, 2022, the company announced that it has adjusted its repurchase price from CNY 57.8 per share to CNY 57.43 per share.
Xiangyu Medical Co Ltd is a China-based company mainly engaged in rehabilitation medical equipment industry. The Company is mainly engaged in the independent research and development, production and marketing of intelligent rehabilitation equipment in the rehabilitation fields such as pain, neurology, orthopedics, traditional Chinese medicine, postpartum field, postoperative field, cardiopulmonary field, and medical-care integration. The Company's main products are divided into three categories: rehabilitation assessment, rehabilitation training, and rehabilitation physiotherapy. The Company mainly conducts business within the domestic market.