Zhejiang Zheneng Electric Power Co., Ltd. commences an Equity Buyback Plan for CNY 1,200 million worth of its shares, under the authorization approved on August 31, 2021.

Zhejiang Zheneng Electric Power Co., Ltd. (SHSE:600023) commences share repurchases on November 1, 2021, under the program mandated by the shareholders in the Annual General Meeting held on August 31, 2021. As per the mandate, the company is authorized to repurchase up to CNY 1,200 million worth of its common stock. The shares will be repurchased at a purchase price of CNY 4.9 per share.

The program will be funded from company's own funds. The purpose of the program is to reduce the company's registered capital. The program will be valid for 12 months.