Share repurchases at the A-share market are gathering momentum at the start of 2019 as companies release new plans to reacquire their shares or updates on their ongoing buybacks, said a report of Shanghai Securities News on Friday.
In the first three days of 2019, five A-share companies had disclosed their share repurchase plans which, if successfully executed, would be worth a total of 4.4 billion yuan (640.82 million U.S. dollars).
The largest of these new buyback plans was the one from Guangdong HEC Technology Holding Co., Ltd., an alloy and chemical product producer based in southern China.
On the night of Jan.3, this company announced it intended to repurchase no more than 2 billion yuan (291.41 million U.S. dollars) of its shares at a maximum unit price of 11.53 yuan (1.68 U.S. dollars). Under this deal, about 173 million shares, or 5.76 percent of this company's stakes, would be recovered.
Yonyou Network Technology Co., Ltd., a Beijing-based software and IT services provider, said on the same night that it planned to buy back up to 1 billion yuan (145.71 million U.S. dollars) of its stakes at a price of no more than 26 yuan (3.79 U.S. dollars) per share.
In 2018, share repurchase schemes announced by over 700 A-share companies amounted to an estimated total worth of 60 billion yuan (8.74 billion U.S. dollars). Most of these deals are still in progress and may be closed in early 2019.
Statistics from the financial data provider Choice revealed that as of the night of Jan. 3, nearly 250 A-share companies had released progress reports on their existing share repurchase plans.
Stakes bought back by several of these companies had exceeded 3 percent of their total shares, with transaction amounts ranging from 134 million yuan (19.52 million U.S. dollars) to 407 million yuan (59.28 million U.S. dollars).
In the first three days of 2019, five A-share companies had disclosed their share repurchase plans which, if successfully executed, would be worth a total of 4.4 billion yuan (640.82 million U.S. dollars).
The largest of these new buyback plans was the one from Guangdong HEC Technology Holding Co., Ltd., an alloy and chemical product producer based in southern China.
On the night of Jan.3, this company announced it intended to repurchase no more than 2 billion yuan (291.41 million U.S. dollars) of its shares at a maximum unit price of 11.53 yuan (1.68 U.S. dollars). Under this deal, about 173 million shares, or 5.76 percent of this company's stakes, would be recovered.
Yonyou Network Technology Co., Ltd., a Beijing-based software and IT services provider, said on the same night that it planned to buy back up to 1 billion yuan (145.71 million U.S. dollars) of its stakes at a price of no more than 26 yuan (3.79 U.S. dollars) per share.
In 2018, share repurchase schemes announced by over 700 A-share companies amounted to an estimated total worth of 60 billion yuan (8.74 billion U.S. dollars). Most of these deals are still in progress and may be closed in early 2019.
Statistics from the financial data provider Choice revealed that as of the night of Jan. 3, nearly 250 A-share companies had released progress reports on their existing share repurchase plans.
Stakes bought back by several of these companies had exceeded 3 percent of their total shares, with transaction amounts ranging from 134 million yuan (19.52 million U.S. dollars) to 407 million yuan (59.28 million U.S. dollars).
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