Jiangsu Hualan New Pharmaceutical Material Co.,Ltd. commences an Equity Buyback Plan for CNY 200 million worth of its shares, under the authorization approved on May 26, 2023.
June 05, 2023 at 12:00 pm
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Jiangsu Hualan New Pharmaceutical Material Co.,Ltd. (SZSE:301093) commences share repurchases on June 5, 2023, under the program mandated by the shareholders in the Extraordinary General Meeting held on May 26, 2023. As per the mandate, the company is authorized to repurchase its own shares for a total of CNY 200 million. The shares will be purchased at a price not exceeding CNY 49.5 per share. The repurchased shares will be cancelled thereby reducing the registered capital. The program will be funded from the excess funds raised by the company. The program will be valid for 12 months from the date of the shareholder's meeting.
On June 28, 2023, the company announced that it has adjusted its repurchase price from CNY 49.5 per share to CNY 49.20 per share.
Jiangsu Hualan New Pharmaceutical Material Co Ltd is a China-based company primarily engaged in the research, development, production and sales of packaging materials for direct contact injection drugs. The Companyâs main products include various kinds of coated rubber stoppers, conventional rubber stoppers and others. The Company's products are mainly used in the field of pharmaceutical preparations such as infusion, freeze-drying, powder injection, monoclonal antibodies, small water injections, blood sampling, and Chinese medicine compound preparations, among others. The Company also produces plastic infusion container assemblies and urinary anorectal minimally invasive surgical instruments. The Company distributes its products within the domestic market and to overseas markets, including Italy, Egypt, Saudi Arabia, Qatar and other areas.
Jiangsu Hualan New Pharmaceutical Material Co.,Ltd. commences an Equity Buyback Plan for CNY 200 million worth of its shares, under the authorization approved on May 26, 2023.
JIANGSU HUALAN NEW PHARMACEUTICAL MATERIAL CO.,LTD. 
