Far East Horizon Limited (HK:3360) has released an update.
Far East Horizon Limited has announced its decision to exercise a mandate approved by shareholders to buy back up to 10% of its issued shares using internal financial resources, aiming to enhance shareholder value and earnings per share. The company’s board believes that the current trading price doesn’t reflect its true value and views the buy-backs as a reflection of their confidence in the company’s future. However, the execution of the share buy-backs will depend on market conditions and remain at the board’s discretion.
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