Share buyback plan to cost Baosteel 5b yuan
By Gao Changxin and Wang Ying in Shanghai | China Daily | Updated: 2012-08-29 08:04
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An advertisement for Baoshan Iron and Steel Co Ltd, also known as Baosteel, in Shanghai. On Tuesday, Baosteel's share price skyrocketed to 4.48 yuan (71 US cents), hitting the daily increase limit of 10 percent on news of a share buyback. Jing Wei / for China Daily |
Securities regulator says transaction will help boost investor confidence
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