Chongqing Changan Automobile (000625,200625) spent HK$185 million to buy back 51.35 million B shares, or a 1.06 percent stake, at prices between HK$3.52 and HK$3.68 per share, yesterday, reports China Securities Journal, citing a company filing.
On March 12, the automaker had repurchased 32.42 million B shares for a total of HK$115 million, bringing the total number of B shares bought back to 83.77 million shares, or a 1.73 percent stake.
According to Changan Automobile's share buyback plan, it plans to spend up to HK$610 million to buy not more than 270 million B shares at a maximum price of HK$3.76 per share.