Chongqing Department Store Co.,Ltd. commences an Equity Buyback Plan for CNY 610 million worth of its shares.
December 21, 2020
Share
Chongqing Department Store Co.,Ltd. (SHSE:600729) ) commences share repurchases on December 21, 2020 under the program mandated by the shareholders in the Annual General Meeting held on June 30, 2020. As per the mandate, the company is authorized to repurchase up to CNY 610 million worth of shares. The shares will be repurchased at a price not more than CNY 30 per share. The program will be funded by company’s own funds or self-raised funds. The repurchased shares are used for employee stock ownership or equity incentive plans. The program is valid till 12 months from the date when the company’s general meeting of shareholders considers and approves the share repurchase plan.
On July 13, 2020, the company adjusted the purchase price per share to not more than CNY 29.27 per share and thereby reducing the authorization to CNY 595 million.
Chongqing Department Store Co Ltd is a China-based company mainly engaged in the department store and supermarket business. The Company's segments include Department Stores Segment, Supermarkets Segment, Electrical Appliances Segment, Automobile Trading Segment and Real Estate and Engineering Segment. The Company's business involves comprehensive department stores, shopping malls, boutique supermarkets, supermarkets, electrical appliance stores, automobile trade brand stores and others. The Company owns trademarks and commercial brands such as âChongqing Department Store', New Century Department Store', 'Shangshe Electrical Appliancesâ, and âShangshe Automobile Tradeâ. The Company operates its business in domestic market.
CHONGQING DEPARTMENT STORE CO.,LTD. 
