Asia
Anhui Conch Cement's Board Approves Share Buyback Plan
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.
HKG:0914SHA:600585