HK-listed AviChina at over 4-month high on buyback plan

AviChina Industry & Technology Co

27/05/2020 03:53

** Shares of AviChina Industry & Technology Co Ltd  2357.HK 
rise as much as 8.7% to HK$3.66, their highest since Jan 16
    ** Stock of the civil aviation products developer and maker
set for a third consecutive session of gains
    ** Co repurchased 3.08 mln shares on Tuesday, representing
0.049% of its total issued share capital, at price ranging
HK$3.28-HK$3.45 each for an aggregate HK$10.28 mln ($1.3 mln)
 urn:newsml:reuters.com:*:nFWN2D80MR
    ** Says it may repurchase more shares at any price at the
discretion of the board, but there is no assurance of the
timing, quantity or price of any share repurchase 
    ** As of last close, stock down 3.1% so far this year
    ** Beijing-based Avichina Industry has outperformed the Hang
Seng Commerce & Industry Index sector  .HSNC  by 11.8 percentage
points in the past one month
    ** The Hang Seng China enterprises index  .HSCE  eases 0.7%,
and the benchmark index  .HSI  falls 0.8%
     ($1 = 7.7527 Hong Kong dollars)

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)