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FINWIRES

Zhejiang E-P Equipment Proposes Share Buyback of Up to 100 Million Yuan

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Zhejiang E-P Equipment (SHA:603194) proposed to repurchase shares worth between 50 million yuan and 100 million yuan, according to a Shanghai bourse filing on Tuesday.

About 1 million to 2 million shares, representing 0.25% to 0.5% of the Chinese industrial vehicle manufacturer's total shares, will be bought back for up to 50 yuan per share within 12 months after board approval through centralized bidding.

The repurchased shares will be used for the company's employee stock ownership plan or equity incentive plan.

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