Petpal Pet Nutrition Technology Co., Ltd. announces an Equity Buyback for CNY 100 million worth of its shares.
March 07, 2022 at 11:00 am EST
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Petpal Pet Nutrition Technology Co., Ltd. (SZSE:300673) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its shares. The shares will be repurchased at a price not more than CNY 26 per share. The repurchased shares will be used in employee stock ownership plan or equity incentive plan. The program will be valid for a period of 6 months from the shareholders' meeting approval of the repurchase plan.
On March 10, 2022, the company adjusted the repurchase price from CNY 26 per share to CNY 25 per share.
Petpal Pet Nutrition Technology Co Ltd is a China-based company engaged in research, development, production and sales of pet foods. The Company's products include pet chews, such as animal skin chews and plant chews, pet nutritional snacks, pet nutrition and health products, as well as pet biscuits. For domestic market, the Company sells its own brands through online and offline channels. The brands include Chewnergy, Meaty Way, Health Guard, SmartBalance, SmartBones and Tastybone. For international markets, it produces and sells pet food using original design manufacturer (ODM) model. Its products are sold to North America, Europe and Southeast Asia.