HK's Value Partners rises most in 3 months on plan to buy back 10% of shares

Value Partners

18/06/2021 05:18

** Shares of Value Partners Group Ltd  0806.HK  rise 5.5% to
HK$4.99, their biggest intraday percentage gain since March 15
    ** Stock hits its highest since June 10 and is on course for
a second straight session of gains
    ** The asset management group says it may buy back up to
185.51 mln shares, or 10% of its issued capital, in the open
market as current trading price does not reflect intrinsic value
(https://bit.ly/3cNDt5W)
    ** Says its financial position is solid and healthy and the
share buy-back, which will be funded by available cash, reflects
the company's confidence in its long-term business prospects 
    ** The Hang Seng Finance Index  .HSNF  slips 0.4% while the
benchmark index  .HSI  climbs 0.6%
    ** By last close, the stock had surged 17.4% this year 

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