HK-listed sofa maker Man Wah climbs to 1-1/2-yr high on share buyback

Man Wah Holdings

17/01/2020 05:22

** Stock of sofa maker Man Wah Holdings  1999.HK  climbs as
much as 3.4% to HK$6.70, the highest since June 2018
    ** Stock on track for 5th straight session of gain
    ** Company says it bought back 778,000 shares on market for
about HK$5 mln ($643,410); stock bought at a price that ranged
from HK$6.38 to HK$6.43 per share on Jan. 16 (https://bit.ly/2NvtzZS)
    ** Says its cash flow from operational activities is strong
and healthy, and the share buyback reflects its confidence in
prospects
    ** Man Wah has outperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 8.5 percentage points in the
past one month
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
eases 0.1%, and the benchmark index  .HSI  edges down 0.04%
    

($1 = 7.7711 Hong Kong dollars)

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