Midea Group announced a new round of share repurchase progress: it has spent 580 million yuan to buy back 10.1542 million shares

2022-06-19 0 By

Listed Midea Group (000333) disclosed the progress of its latest round of share buybacks on the evening of April 1.According to the announcement, as of March 31, the company has repurchased 10.1542 million shares through centralized bidding, accounting for 0.1452% of the company’s total share capital, with the highest transaction price of 59 yuan/share and the lowest transaction price of 54.4 yuan/share, paying a total amount of 580 million yuan (excluding transaction costs).On the evening of March 10, Midea Group issued a buyback announcement, saying that the company decided to continue to use its own funds of 2.5 billion yuan to 5 billion yuan to buy back the company’s shares.The announcement comes as Midea’s share price continues to decline and the company hopes to demonstrate its confidence in future growth prospects and recognition of the company’s value.Midea’s share price has fallen more than 40% since reaching a record high of 108 yuan per share in January last year, and is now trading at less than 60 yuan per share.Shares of Midea Group rose 2.81% to close at RMB58.6 per share on April 1, the same level as when the buyback announcement was made on March 10.By Beijing Youth Daily reporter Zhang Qin and editor Fan Hongwei