China Conch jumps most on record on share buyback plan

China Conch Environment Protection Holdings

26/05/2022 05:22

** Shares of industrial solid and hazardous waste treatment
service provider China Conch Environment Protection Holdings Ltd
 0587.HK  surge as much as 10.2% to HK$5.95, their biggest daily
pct gain since debut on March 30
    ** Anhui, China-based company, with a market value of
HK$10.38 bln ($1.32 bln), plans to buy-back up to HK$300 mln
($38.22 mln) worth of shares in the open market, saying the
current trading price does not reflect the intrinsic value and
its business prospects  urn:newsml:reuters.com:*:nFWN2XH119
    ** The Hang Seng Commerce & Industry Index  .HSNC  eases
0.3% while the Hang Seng Composite Index tracking industrials
 .HSCIIG  climbs 0.7%
    ** The Hang Seng Composite Index  .HSCI  edges up 0.04%
while the benchmark Hang Seng Index  .HSI  slips 0.1%

($1 = 7.8495 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))