Shanghai Kangda New Materials Group Co., Ltd. announces an Equity Buyback for CNY 30 million worth of its shares.
January 12, 2021 at 11:00 am EST
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Shanghai Kangda New Materials Group Co., Ltd. (SZSE:002669) announces a share repurchase program. Under the program, the company will repurchase up to CNY 30 million worth of its A shares. The shares will be repurchased at a price of not more than CNY 25 per share. The repurchased shares will be used for ESOP or equity incentive plan. The shares will be repurchased out of own funds of the company. The plan will be valid for 12 months.
Kangda New Materials Group Co Ltd, formerly Shanghai Kangda New Materials Group Co Ltd, is a China-based company mainly engaged in the fine chemical industry and military electronics industry. The Company's fine chemical business mainly produces mid-to-high-end adhesives, new functional polymer materials, and fine chemicals. Its products include epoxy glue, acrylic glue, polyurethane glue and styrene-butadiene-styrene block copolymer (SBS) adhesives. Military electronic products mainly include polyimide foam heat insulation materials used in the aviation, aerospace, naval, army, and weapon markets, as well as polyimide foam insulation materials used in the field of marine engineering. The Company mainly conducts business in the domestic market.
KANGDA NEW MATERIALS (GROUP) CO., LTD. 
