Zijin Mining plans up to 1 billion yuan A-share buyback

China’s Zijin Mining (2899) said it plans to use 600 million yuan (HK$638 million) to 1 billion yuan of its own funds to repurchase A-shares over the next 12 months, for use in employee stock ownership schemes or equity incentive plans.

The buyback price was capped at 17.00 yuan per share.

The repurchased shares, totaling between 35.29 million and 58.82 million based on the ceiling price, will account for 0.13 percent to 0.22 percent of the company’s total shares. 

If the repurchased shares are not utilized within 36 months after the buyback is completed, any unused shares will be canceled.

STAFF REPORTER