CIMC Expands H-Share Buyback With Second HK$300 Million Tranche

The latest update is out from China International Marine Containers (Group) Co., Ltd Class H ( (HK:2039) ).

China International Marine Containers (Group) Co., Ltd. has decided to expand its share repurchase programme for its Hong Kong–listed H shares, after previously buying back over 60 million H shares for about HK$450.5 million under an earlier mandate. The board has now approved a second batch of repurchases of up to an additional HK$300 million, funded by internal and compliant financing sources, within the existing general mandate that caps total H-share buybacks at 10% of the company’s H-share capital at the time of approval. The repurchased shares will be held as treasury shares and may later be cancelled, sold, or used for employee share plans, equity incentives, or convertible bond conversions, in line with Hong Kong listing rules and the company’s articles, a move aimed at protecting shareholder interests and bolstering investor confidence while signalling management’s view of the company’s valuation and long-term prospects.

The most recent analyst rating on (HK:2039) stock is a Buy with a HK$9.00 price target. To see the full list of analyst forecasts on China International Marine Containers (Group) Co., Ltd Class H stock, see the HK:2039 Stock Forecast page.

More about China International Marine Containers (Group) Co., Ltd Class H

China International Marine Containers (Group) Co., Ltd. is a PRC-incorporated, Hong Kong–listed manufacturer and service provider in the container and logistics equipment sector, with its H shares traded on the Hong Kong Stock Exchange. The group focuses on marine containers and related transportation and logistics solutions, serving global trade and shipping markets.

Average Trading Volume: 5,476,217

Technical Sentiment Signal: Strong Buy

Current Market Cap: HK$46.83B

See more insights into 2039 stock on TipRanks’ Stock Analysis page.