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Published in Health and Fitness on Monday, July 11th 2011 at 3:20 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
China Cord Blood Corporation Continues Share Repurchase Program -- HONG KONG, July 11, 2011 /PRNewswire-Asia-FirstCall/ --
China Cord Blood Corporation Continues Share Repurchase Program
HONG KONG, July 11, 2011 /PRNewswire-Asia-FirstCall/ -- China Cord Blood Corporation (NYSE: [ CO ]) ("CCBC" or the "Company"), the first and largest cord blood banking operator in China, today announced that the Company repurchased an aggregate of 2,052,607 ordinary shares. The purchases were made at an average purchase price of $3.49 per share, for a total consideration of approximately $7.2 million between September 2010 and July 2011. The total number of shares repurchased represents approximately 47.7% of the total authorized amount under the current buyback program, which will be effective until September 30, 2011. Approximately $7.8 million still remains available for purchases under the current buyback plan.
Ms. Ting Zheng, Chairperson and CEO of CCBC, stated, "Our operational and financial performance has demonstrated consistently strong growth. As our operations continue to expand across various regions within China, we will continue to capitalize on the growing business opportunities in China to maintain this growth momentum. We strongly believe that our current market valuation has yet to reflect our growth plans and intrinsic value. Thus, the management team considers the buyback program an excellent opportunity and in the best interest of the Company and its shareholders. Moving forward, we will continue to explore various means and initiatives to add value to the Company for our shareholders."
About China Cord Blood Corporation
China Cord Blood Corporation is the first and largest cord blood banking operator in China in terms of geographical coverage and is the only cord blood banking operator with multiple licenses. Under current PRC government regulations, only one licensed cord blood banking operator is permitted to operate in each licensed region and only seven licenses have been authorized as of today. China Cord Blood Corporation provides cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services. For more information, please visit our website at [ http://www.chinacordbloodcorp.com ].
For more information, please contact: | |
China Cord Blood Corporation | |
Ms. Joeling Law | |
Tel: (+852) 3605-8180 | |
Email: [ ir@chinacordbloodcorp.com ] | |
ICR, Inc. | |
In New York: Ashley Ammon De Simone: 1-646-277-1227 | |
In Beijing: Wen Lei Zheng: +86-10-6583-7510 | |
SOURCE China Cord Blood Corporation
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[ http://www.chinacordbloodcorp.com. ]