62 A-Share Companies Execute Buybacks Totaling RMB 1.47 Billion; Yifeng Pharmacy Completes First Buyback
Since August, 62 A-share companies have implemented share buybacks with a cumulative transaction value of about RMB 1.47 billion. Yifeng Pharmacy Chain Co. , Ltd. completed its first buyback of 1.7756 million shares on August 6 at prices ranging from RMB 22.01 to RMB 22.62 per share, representing 0.15% of total share capital. The plan was approved by the board on July 24, less than two weeks before execution. Repurchased shares are typically earmarked for cancellation, equity incentives, and employee stock ownership plans.
Since August, 62 A-share companies have implemented share buybacks, with a cumulative transaction value of about RMB 1.47 billion. Some listed companies have moved swiftly to advance related work shortly after unveiling buyback proposals.
On August 6, Yifeng Pharmacy Chain Co. , Ltd. announced that it had bought back 1.7756 million shares for the first time that day through centralized competitive bidding on the Shanghai Stock Exchange trading system, representing 0.15% of the company's total share capital. The highest transaction price was RMB 22.62 per share and the lowest was RMB 22.01 per share. The company's board reviewed and approved the buyback plan on July 24; less than two weeks elapsed between plan approval and the first buyback.
Based on announcements issued by listed companies, repurchased shares are mostly earmarked for cancellation, equity incentives, and employee stock ownership plans.