HK-listed China Feihe hits 3-mth low, trims losses on share buyback plan

China Feihe

09/06/2021 07:14

** Shares of infant milk formula products producer  6186.HK 
fall as much as 8.5% to HK$18.84, their lowest since March 9
    ** Stock trims losses on plan to buy back up to 10% of
shares for $200 mln, to reflect its confidence in its long-term
business outlook and growth  urn:newsml:reuters.com:*:nFWN2NQ16L
    ** Stock last down 6.5%, on course for worst session since
Feb. 24; the second-most actively traded by turnover and among
the 30 biggest pct decliners on HK bourse
    ** China Feihe says it will fund the the share buyback using
available cash reserves and free cash flow
    ** Chairman Leng Youbin on Tuesday said sales of infant milk
products in China set to fall sharply in coming one to two years
as couples can't plan for children within 6 months of taking
COVID-19 vaccines - mainland media report (https://bit.ly/3z8ngln)
 
    ** The Hang Seng China enterprises index  .HSCE  slips 0.4%,
and the benchmark index  .HSI  eases 0.2%
    ** As of last close, the stock had risen 13.4% this year

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