Shanghai RAAS Blood Products (SHE:002252) plans to repurchase shares worth between 250 million yuan and 500 million yuan, according to a Shenzhen Stock Exchange filing on Tuesday.
The Chinese blood products maker will buy back between 26.2 million shares and 52.4 million shares for up to 9.55 yuan per share within 12 months after shareholders' approval.
The company will use the repurchased shares for employee stock ownership plans or equity incentives, the disclosure added.
The company's shares rose less than 2% in recent trade.
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