Sinotrans (HKG:0598, SHA:601598) said it plans to spend between 271 million yuan and 542 million yuan to repurchase and cancel its A shares through centralized bidding, with the upper limit for the repurchase price per A share set at 7.43 yuan.
The integrated logistics services provider said it will finance the share buyback from its existing self-owned or self-financed funds, according to a Wednesday Hong Kong bourse filing.
The company is allowed to repurchase up to 1% of the total company's share capital within a term of 12 months, starting from the date of the filing.
The company's shares were down over 1% in recent trade.
Price (HKD): $3.81, Change: $-0.050, Percent Change: -1.30%
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