Shanghai based, Chinese steelmaker Baoshan Iron and Steel Co.,Ltd （Baosteel） announced on September 23 that it has spent RMB 69.1 million ($11 million) including commissions on its initial buy-back of 14.89 million shares on September 21, which is equivalent to 0.09 percent of its total shares.
According to stock exchange, the maximum price of the purchase stood at RMB 4.65 per share ($0.73), while the minimum price at RMB 4.62 per share ($0.74). The share buyback program will be valid for 12 months after shareholders' approval.