Chongqing Chang’an Auto Co will spend up to US$117 million to buy back B-shares over concerns of low valuations, Reuters reported. Trading of A- and B-shares in the company, a partner of Ford Motor, had been suspended in October as Chang’an prepared for asset restructuring. B-shares had been trading at HK$1.68 (US$0.22) a 60% discount to A-shares at the time. Pending shareholder approval, the buyback will see Chang’an purchase up to 423 million B-shares at up to HK$3.68 (US$0.47) per share.
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