Skyworth Digital Holdings ( (HK:0751) ) has provided an update.
Skyworth Group Limited, a company incorporated in Bermuda, has announced a conditional cash offer to buy back up to 350 million shares, representing approximately 15.67% of its issued shares, at a price of HK$3.11 per share. This move, facilitated by CLSA Limited, is aimed at enhancing shareholder value and is funded by the company’s internal resources. The offer price represents a significant premium over recent trading prices, although it is at a discount to the company’s net asset value per share. The controlling shareholder, Mr. Wong, holds a significant interest in the company, which may influence the outcome of this buy-back initiative.
More about Skyworth Digital Holdings
YTD Price Performance: -14.50%
Technical Sentiment Signal: Buy
Current Market Cap: $764.1M
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