China Telecom Group launched a 4 billion yuan holding plan

Updated:2021/9/23 10:07

Upon expiration of the “Green Shoe Option”, controlling shareholders of China Telecom put forward a plan of increased holding of shares. On Sept. 21, China Telecom announced that its controlling shareholder China Telecom Group was to take opportunities and increase the holding of shares in this company in the following 12 months as of Sept. 22, 2021, with the planned amount of no less than RMB 4 billion. The program sets no price range. China Telecom Group will gradually implement the program based on reasonable judgment of the share price and fluctuations in price as well as the overall trend in the capital market.

However, this program harbors the risk of impracticability due to changes in the capital market and factors unforeseeable for the moment. According to China Telecom, this increase of shareholding is based on the Group’s confidence in the future development of the company and recognition of the investment value of the same.

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