China Automotive Engineering Research Institute announced on September 29 that its controlling shareholder China Certification & Inspection Group plans to increase its holdings of the company's A-shares through centralized bidding on the Shanghai Stock Exchange within six months from the announcement date, with a total amount of no less than 60 million yuan and no more than 120 million yuan.
China Automotive Engineering Research Institute Co LtdControlling shareholder China Certification & Inspection Group plans to increase its stake in the company by 60-120 million yuan, a share-buyback-style capital event signaling confidence.
China Certification & Inspection Group is the entity committing to buy the A-shares, a capital deployment decision; impact on the group itself is unclear.
