Guizhou Chanhen Chemical (SHE:002895) expects its registered capital to be reduced by 38,000 yuan after repurchasing and cancelling shares held by former employees, according to a Shenzhen bourse filing on Tuesday.
The company will buy back 38,000 restricted shares that were owned by six employees who resigned from the company before the restricted shares became eligible for unlocking.
The phosphate product manufacturer's shares dropped 6% at the close.