China Hongqiao launches HK$595 million share buyback to signal confidence and tighten float
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China Hongqiao Group Ltd. has initiated a share buyback worth HK$595 million, repurchasing 17,951,000 shares at prices between HK$32.28 and HK$33.74. This move aims to signal confidence in the company's long-term strategy and reduce its total issued share capital to approximately 9.89 billion shares. The board believes the current share price undervalues the company and may continue buybacks based on market conditions. The latest analyst rating for the stock is a Buy, with a price target of HK$45.00.
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