Developer Hopson jumps most in 3 weeks on plan to buy back more shares

Hopson Development Holdings

10/12/2021 01:56

** Shares of Chinese property developer Hopson Development
Holdings Ltd  0754.HK  rise 4.4% to HK$17.38, the biggest daily
pct gain since Nov. 19 
    ** Stock top gainer in the sub-index tracking properties and
construction stocks  .HSCIPC  and the second-biggest gainer on
Hang Seng Composite Index  .HSCI  
    ** Hopson says it has repurchased 18.84 mln shares for
HK$497 mln ($63.74 mln) so far since Aug. 25 and it will
continue to repurchase shares as the current shares price does
not fully reflect the intrinsic value of the shares or the
company's business prospects  urn:newsml:reuters.com:*:nFWN2SU11F
    ** Says the company will finance the repurchase of shares
from its internal resources
    ** Hang Seng Mainland Properties Index  .HSMPI  climbs 0.9%,
and the sub-index  .HSCIPC  gains 0.1%
    ** The Hang Seng Composite Index  .HSCI  slips 0.5% and the
benchmark Hang Seng Index  .HSI  eases 0.4%
    ** As of last close, the stock had fallen 7.4% this year



($1 = 7.7978 Hong Kong dollars)

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