Yunnan Energy New Material (Group) Co., Ltd. (SZ: 002812) has announced that it has received a commitment letter from a financial institution.
The company stated on July 27 that the Yuxi branch of the Industrial and Commercial Bank of China has provided a loan commitment letter. The institution has agreed to provide a dedicated loan for the company's share repurchase program, amounting to 180 million yuan.
The loan has a term of no more than three years. This financing is designated specifically to support the company's stock buyback activities.