Chalco to Buy Back Equity in Four Units
China’s largest primary aluminum producer will buy back equity in four subsidiaries as part of a major restructuring plan.
In addition to having signed a buyback plan with eight state-backed companies, Aluminum Corporation of China Ltd. (Chalco) will also continue to suspend the trading of its Shanghai-traded A-shares, it said in a stock exchange filing late Thursday. The company has also listed its H-shares, which have not been suspended, in Hong Kong and on the New York Stock Exchange.
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