CATL chairman proposes 2-3 billion yuan company share buyback

BEIJING (Reuters) – Chinese EV battery giant CATL has received a proposal from Chairman Robin Zeng for the company to buy back shares worth 2-3 billion yuan ($273-$410 million) within 12 months, it said on Thursday in a filing to the Shenzhen Stock Exchange.

The repurchased shares would be used for a stock incentive plan or an employee stock ownership plan, CATL said in the filing.

($1 = 7.3191 Chinese yuan renminbi)

(Reporting by Beijing Newsroom; editing by Jason Neely)