Lianxun Instruments Chairman Proposes RMB 100-150M Share Buyback

Cointime update: Lianxun Instruments said on Nov. 5 that controlling shareholder, actual controller and chairman Hu Haiyang proposed a share buyback of RMB 100 million to RMB 150 million. The repurchase would be funded by the company’s own or self-raised funds through centralized bidding on the Shanghai Stock Exchange and used for an employee stock ownership plan or equity incentives. The buyback price would not exceed 150% of the average trading price over the 30 trading days before board approval.