China Vanke-backed Onewo climbs on plan to buy back H shares

Onewo

04/12/2025 07:28

** Shares of Onewo Inc 2602.HK climb 1.7% to HK$20.16, on course for the biggest one-day pct gain since Nov. 24

** China Vanke-backed property management services provider said it plans to repurchase up to 500 mln yuan ($70.73 mln) worth of H shares in the open market, in a bid to demonstrate confidence in its business development and prospects

** The share repurchase will be funded by the company's own financial resources while its current financial resources will enable it to implement the share repurchase while maintaining a sound financial position - co

** China Vanke's Hong Kong stock adds 1.7% while Shenzhen shares 000002.SZ down 0.8%

** YTD, Onewo stock up 0.3%, Hang Seng Mainland Properties Index .HSMPI up 13.5%

($1 = 7.0691 Chinese yuan renminbi)

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))