Hundsun Technologies to Repurchase Up to 120 Million Yuan of Shares

MT Newswires Live

2024-11-05

Hundsun Technologies (SHA:600570) plans to buy back between 60 million yuan and 120 million yuan of shares through centralized bidding, according to a Tuesday filing with the Shanghai Stock Exchange.

The technology company will pay not more than 37.40 yuan apiece.

Hundsun will source the funds for the share repurchase from China Merchants Bank (HKG:3968, SHA:600036) Hangzhou Branch and the company's own funds, the filing said.

The special loans for the buyback will not exceed 84 million yuan.

Shares closed 10% higher during the close of trading on Tuesday.

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