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Anhui Conch Cement's Board Approves Share Buyback Plan

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Anhui Conch Cement (HKG:0914, SHA:600585) approved plans to repurchase mainland-listed and Hong Kong-listed shares, according to a Tuesday bourse filing.

Hong Kong-listed shares of the cement company were up nearly 2% in Wednesday afternoon trade.

The company plans to repurchase domestic shares worth between 600 million yuan and 1 billion yuan at no more than 27.71 yuan per share from May 29 to Aug. 25.

Anhui Conch Cement also proposed a Hong Kong-share repurchase plan of up to HK$700 million, subject to shareholder approval at its annual general meeting on May 28.

The company said the buybacks are intended to safeguard shareholder interests and boost investor confidence.

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