China Railway Group (HKG:0390) plans to repurchase and cancel 8,764,699 restricted shares granted to its 57 participants but are not yet unlocked, a Friday Hong Kong bourse filing said.

The company has opened a special securities account for the repurchase with and made an application to the China Securities Depository and Clearing to execute the share repurchase and cancellation.

The cancellation is expected to be completed by Dec. 25, and after the cancellation, the company will still have 111,066,899 restricted shares.