HK-listed UBTech jumps on share buy-back plan

Ubtech Robotics

20/01/2025 02:14

** UBTech Robotics  9880.HK  jumps 8.3% to HK$58.35, highest
since Dec. 31, 2024
    ** Stock set to gain for the second straight session
    ** Chinese humanoid robots maker will buy back shares in the
secondary market for up to 200 mln yuan ($27.3 mln); says that
they are currently undervalued
    ** Adds board confident about co's operating results and
future development prospects; may allocate additional funds for
further share purchase later
    ** Citi reiterates "buy"
    ** Says, "Although the amount of repurchase is not
significant, we think it shows management's commitment to
stabilize UBTech's share price and boost investor confidence in
the company"
    ** Last year, stock gained 64.3%

($1 = 7.3220 yuan)

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