China Coal Energy Co., Ltd. said its controlling shareholder China National Coal Group has received a loan commitment letter from ICBC's Beijing branch, which agreed to provide special loan support for the parent's stake increase in the company's A-shares, with the loan amount not exceeding 90 million yuan and no more than 90% of the actual buyback plan amount, with a term of up to three years.The total value of the share increase plan ranges from 50 million to 100 million yuan, with the number of shares to be purchased not exceeding 2% of the company's total share capital, funded by the parent's own funds and self-raised capital.
China Coal Energy's parent gets ICBC loan support for share buyback
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