Ningbo Dongli's controlling shareholder plans to buy shares worth 100-200 mln yuan, with BoCom providing special loan
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Ningbo Dongli Co., Ltd. announced on September 24 that its controlling shareholder, Dongli Holding Group Co., Ltd., plans to increase its stake in the company. The buyback, valued at between 100 million yuan and 200 million yuan, will not exceed 2% of the company's total shares. The purchase will be executed through the Shenzhen Stock Exchange's centralized bidding system within six months of the announcement. The controlling shareholder stated the move is based on recognition of the company's intrinsic value and confidence in its future stable development, aiming to protect shareholder interests and boost investor confidence. No price range has been set; the shareholder will decide based on stock price fluctuations and overall market conditions. Additionally, the Bank of Communications Co., Ltd. Ningbo Branch has issued a loan commitment letter to Dongli Holding, offering up to 150 million yuan in special loan support for the buyback, with a loan term of up to 36 months.
Source report
Shanghai, September 24 — Ningbo Dongli Co., Ltd. announced on the evening of September 24 that its controlling shareholder, Dongli Holding Group Co., Ltd., plans to increase its shareholding in the company through centralized竞价 trading on the Shenzhen Stock Exchange.
The buyback, driven by the shareholder's recognition of the company's intrinsic value and confidence in its sustained and stable development, aims to safeguard the interests of all shareholders and boost investor confidence. The plan will be executed within six months from the date of the announcement.
Key Details of the Buyback Plan
- Total investment: No less than 100 million yuan and no more than 200 million yuan
- Share cap: Not exceeding 2% of the company's total share capital
- Price range: No preset price range; execution will depend on stock price fluctuations and overall market conditions
Loan Support
The Ningbo Branch of Bank of Communications Co., Ltd. has issued a Loan Commitment Letter to Dongli Holding, pledging special loan support for the share buyback. The loan facility is capped at 150 million yuan, with a maximum term of 36 months.
(Reported by Shen Zhenzhou)
Source
财经网Eastern
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Ningbo Donly controlling shareholder plans up to 200 million yuan share buyback with bank loan support