Huuuge falls after postponement of share buyback

Huuuge

17/03/2023 09:42

** Shares in Huuuge  HUGP.WA  drop as much as 7% after the
mobile games developer postponed share buyback to the first half
of the year due to the ongoing preparatory works
    ** Huuuge said in February that it plans to launch an up to
$150 million share buyback in the first quarter following a
review of strategic options 
    ** Huuuge also said that board of directors may decide to
further postpone or cancel share buyback depending on market
conditions 
    ** Erste Group analyst Piotr Bogusz says that postponement
of the planned start date of the share buyback and the company
repeating the buyback may still be postponed or cancelled, may
scare off some investors
    ** By 0939 GMT Huuuge shares were down 5%, at the bottom of
Poland's mid-cap index mWIG40  .mWIG40  
        

 (Reporting by Adrianna Ebert)
 ((Adrianna.Ebert@thomsonreuters.com))