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Numans Health Food Holdings Company Limited ( (HK:2530) ) just unveiled an announcement.
Numans Health Food Holdings Company Limited has used surplus internal cash resources to acquire 4 million shares in Lenovo Group on the open market for about RMB34.1 million, at an average price of roughly RMB8.524 per share, in a transaction classified under Hong Kong listing rules as a discloseable transaction. Management positions the move as an effort to enhance returns on idle funds amid a low interest rate environment by investing in Lenovo, described as a market leader in smart devices, computers, software and related services, potentially diversifying Numans’ asset base and improving capital efficiency without tapping its IPO proceeds.
The most recent analyst rating on (HK:2530) stock is a Hold with a HK$0.62 price target. To see the full list of analyst forecasts on Numans Health Food Holdings Company Limited stock, see the HK:2530 Stock Forecast page.
More about Numans Health Food Holdings Company Limited
Numans Health Food Holdings Company Limited is an investment holding company whose operating group focuses on marketing, sales and distribution of finished nutritional products in mainland China. It sells products under its proprietary “Nemans” brands, covering algal oil DHA, probiotics, vitamins, multi-nutrient supplements and algal calcium products for the health food market.
Average Trading Volume: 130,098
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$600M
For detailed information about 2530 stock, go to TipRanks’ Stock Analysis page.