October 2, 2018 / 2:42 AM / in 3 months

Country Garden says it plans to buy back up to $383 mln shares

HONG KONG, Oct 2 (Reuters) - China’s top property developer Country Garden Holdings plans to use up to HK$3 billion ($383.0 million) to continue to buy back a maximum of 2.1 billion shares, it said in a filing late on Monday.

The company has bought back a total of 78.9 million shares so far this year for HK$993.2 million, as part of a mandate that allows the company to repurchase a maximum of 2.2 billion shares, or 10 percent of the total issued shares.

Its indirect wholly-owned subsidiary Power Great Enterprises Ltd has also acquired a total of 176.7 million shares for HK$2.2 billion so far this year, which would be used for the employee incentive scheme, the developer said in the filing. ($1 = 7.8328 Hong Kong dollars) (Reporting by Clare Jim; Editing by Amrutha Gayathri)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below