Baoshan Iron and Steel Co Ltd, the country's biggest steelmaker, plans to spend 5 billion yuan ($786.88 million) to buy back its own shares for no more than 5 yuan a share.The steel industry has trouble ahead due to overcapacity, but Baosteel's shares are trading around their lows of the past 12 years.
The decision comes after the company's stock value declined to a new low and will make the Shanghai-based steelmaker, commonly known as Baosteel, the country's first blue-chip company to buy back its own shares this year. Analysts have said they expect other companies in the same league to soon conduct similar transactions.
BANIMMO BOUWT NIEUWE HOOFDZETEL VOOR FARYS
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Banimmo verkreeg op 14 maart 2024 een vergunning voor de bouw van een
kantoorgebouw van 10.318 m2 met labo’s en opslagruimte op The Loop in Gent.
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