Shandong Xinhua Pharmaceutical: proposal on repurchasing H shares objected

Shandong Xinhua Pharmaceutical (0719) announced that the proposals on repurchasing H shares were objected at H-share shareholder meeting.

The company originally planned to repurchase some H shares after issuing A shares with buyback rate of 10% against H shares. The company explained that it would be benefit to repurchase some H share over sharp difference between the share prices of H shares and A shares.

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