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China Hongqiao Group Ltd. ( (HK:1378) ) has shared an announcement.
China Hongqiao Group Limited has announced a voluntary on-market share repurchase, buying back 10,151,000 ordinary shares at prices ranging from HK$22.10 to HK$23.24 per share, amounting to approximately HK$234.4 million. This repurchase, representing about 0.11% of the company’s issued shares, will reduce the total number of shares to 9.6 billion, with a public float of 36.52%, well above the required 15.04%. The move reflects the board’s confidence in the company’s long-term strategy and growth, deemed beneficial for shareholders.
The most recent analyst rating on (HK:1378) stock is a Hold with a HK$10.50 price target. To see the full list of analyst forecasts on China Hongqiao Group Ltd. stock, see the HK:1378 Stock Forecast page.
More about China Hongqiao Group Ltd.
Average Trading Volume: 29,295,591
Technical Sentiment Signal: Buy
Current Market Cap: HK$222B
See more data about 1378 stock on TipRanks’ Stock Analysis page.