China's Changan Auto considering B-share buyback
31 October 2008
Chongqing Changan Automobile Co Ltd, whose shares have been suspended from trading since Oct 10, said it is considering a B-share buyback due to a large disparity with A-share price levels.
On Monday, the automaker said the trading halt was due to a planned restructuring, adding that it will seek to make a more detailed disclosure within 30 days.
Planned actions include "both B-share buybacks and asset restructuring, and the company, the parent company and intermediary institutions are finalizing the details of the plans," the bank said in a statement filed with the Shenzhen Stock Exchange.
A-shares of Changan Auto last traded at 3.67 yuan on Oct 9, down 2.13 percent.
Source : english.chinabuses.com
Editor : Ida
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