HK-listed JS Global Lifestyle jumps on share buyback plan

JS Global Lifestyle

06/06/2023 06:00

** Shares of JS Global Lifestyle Co Ltd  1691.HK  jump as
much as 3.7% to HK$8.03, their highest since April 3
    ** Stock on course for the third consecutive session of
rise, if gains hold
    ** The small household appliances maker and exporter says it
intends to buy back shares in the open market for up to HK$400
mln ($51.02 mln) in a bid to reflect the company's confidence in
its long-term strategy and growth
    ** Co also says a proposed spin-off and separate listing of
its home appliances distribution unit, SharkNinja Group, on a
U.S. Exchange is the "best course of action" in light of market
conditions in the U.S. and the proposal is subject to
shareholders and relevant U.S. authorities' approvals.
    ** The Hang Seng Commerce & Industry Index  .HSNC  gains
0.6%, the Hang Seng Consumption Index  .HSCGSI  rises 0.7% and
the Hang Seng Index  .HSI  climbs 0.5%
    ** As of last close, the stock had fallen 11.7% this year


($1 = 7.8405 Hong Kong dollars)

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