Top Education Group (HKG:1752) agreed to buy back 264,708,000 shares held by PricewaterhouseCoopers Nominees (A.C.T.) for a little over HK$11.2 million, a Monday filing with the Hong Kong bourse said.
The shares, which will be repurchased at HK$0.0425 apiece, represent roughly 10.86% of the school operator's total issued share capital.
The firm will cancel the repurchased shares, reducing its issued share capital to 2,171,686,000 shares from 2,436,394,000 shares previously.
The buyback is subject to regulatory and shareholder approvals.
PricewaterhouseCoopers Nominees (A.C.T.) was holding the shares on bare trust for the Australian partnership of PricewaterhouseCoopers.
Price (HKD): $0.06, Change: $-0.0010, Percent Change: -1.64%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.