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CH Karnchang begins process of repurchasing shares for financial management

CorporateSep 02. 2020

By The Nation

Top construction firm, CH Karnchang has bought back Bt674.40 million worth of shares at the average cost of Bt18.7 per share for financial management.

The company’s board of directors had initially approved the buying back of no more than 169,389,000 shares or 10 per cent of all sold shares with a maximum credit limit of Bt3 billion.

As of September 1, the company had bought back 36 million shares, accounting for 2.13 per cent of all sold shares.

The board of directors will consider the sale of repurchased shares under this project later.

According to related regulations, companies can sell the shares after six months of repurchasing them, but no more than three years. If the company cannot sell all repurchased shares in time, the unsold ones become invalid.