STOCKS | Mao Geping Plans Up To HK$500 Million H-Share Buyback

Mao Geping (01318) said it plans to exercise its H-share buyback mandate and repurchase H shares from time to time in the open market, with the total amount not exceeding HK$500 million, according to ETNet. The company said the buyback period will run until the mandate expires, unless the total repurchase amount reaches the cap or the board ends the programme earlier. The repurchased H shares will be cancelled or held as treasury shares. Mao Geping said the board approved the move based on confidence in the group's future development prospects and long-term value, and to protect shareholder interests and strengthen investor confidence.