Haitian Flavouring and Food Plans 2 Billion Yuan Stock Buyback; Shares Up 4%
Foshan Haitian Flavouring and Food (SHA:603288, HKG:3288) plans to spend between 1 billion yuan and 2 billion yuan to repurchase A-shares, according to a Shanghai bourse filing on Tuesday.The company aims to buy back between 18.9 million shares and 37.7 million shares for a minimum price of 53 yuan per share through centralized bidding.The share buyback will be implemented 12 months after shareholders' approval.The Chinese condiment maker's shares jumped 4% during the morning trade.