Pacific Basin Shipping (HKG:2343) intends to launch a $40 million share buyback program commencing March 3 and ending Dec. 31, a Friday filing with the Hong Kong bourse said.
The maritime transport company will cancel any shares bought back under the program.
The share repurchase will be allowed under a buyback mandate granted April 19, 2024, beyond which any additional repurchases will be subject to shareholder approval to be obtained at the firm's annual general meeting scheduled April 25.
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