COSCO Shipping Development (HKG:2866, SHA:601866) directors approved the repurchase of A shares and H shares, according to a Wednesday filing with the Hong Kong bourse.
The shipping company will repurchase 40 million to 80 million A shares through centralized price bidding on the Shanghai Stock Exchange at 3.53 yuan apiece for a total of between 141.2 million yuan and 282.4 million yuan, the filing said.
Repurchase date for the A shares is slated from April 9 to June 26, the filing said.
COSCO Shipping Development will also buy back H shares in accordance with listing rules, the filing said.
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