HONG KONG, July 5, 2012 /PRNewswire-Asia-FirstCall/ -- China Cord Blood Corporation (NYSE:CO) ("CCBC" or the "Company"), the first and largest cord blood banking operator in China, today announced that the Company repurchased an aggregate of 2,191,412 ordinary shares for a total consideration of approximately $6.2 million since August 2011. The total number of shares repurchased represents approximately 41% of the total $15 million authorized under the existing buyback program, which was authorized by the Board in August 2011, leaving approximately $8.8 million still available for repurchase.
Ms. Ting Zheng, Chairperson and CEO of China Cord Blood Corporation, stated that "Our most recent full-year results have once again demonstrated our ability to achieve and surpass corporate objectives and financial targets. Our strategy to emphasize upfront payment for cord blood banking services has already yielded tremendous success, as evidenced by the Company's greatly increased cashflow. We have also made good progress in capacity expansion and with the new Zhejiang operation. In light of our optimistic outlook and to demonstrate our commitment toward enhancing long-term shareholder value, we are delighted to seize this window of opportunity to buy back shares and remain committed to continue doing so as opportunities arise."
About China Cord Blood CorporationChina Cord Blood Corporation is the first and largest cord blood banking operator in China in terms of geographical coverage and the only cord blood banking operator with multiple licenses. Under current PRC government regulations, only one licensed cord blood banking operator is permitted to operate in each licensed region and only seven licenses have been authorized as of today. China Cord Blood Corporation provides cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services. For more information, please visit our website at http://www.chinacordbloodcorp.com.