Summary by Moomoo AI
KUMAO INTERNATIONAL HOLDINGS LIMITED (“KYOKOYU”) ANNOUNCED ON 19 APRIL 2024 THAT IT PLANS TO REPURCHASE SHARES IN THE PUBLIC MARKET FOR A MAXIMUM TOTAL AMOUNT OF HK$100 MILLION UNDER THE MANDATE APPROVED AT THE ANNUAL GENERAL MEETING ON 2 JUNE 2023. The authorization authorizes the Board of Directors to repurchase shares not exceeding 10% of the total issued shares. The buyback will follow the listing rules of the HKEX Limited and will be conducted without triggering mandatory covenants or resulting in a public holding below the statutory minimum percentage. The Board stated that this move was because it considered that the share's recent closing price failed to reflect the intrinsic value of the company and showed confidence in the company's long-term business...Show More