Zijin Mining Group (HKG:2899, SHA:601899) is looking to launch a 600 million yuan to 1 billion yuan repurchase program to buy back between 35.3 million and 58.8 million A shares, a Monday filing with the Hong Kong bourse said.
The buyback program will be valid for 12 months from the date on which shareholder approval is obtained.
The shares, which represent 0.13% to 0.22% of the company's total A shares, are intended to be used for an employee stock ownership or share incentive scheme.
If the miner fails to use up the repurchased shares within 36 months of buyback completion, the unused shares will be cancelled.
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