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ZG Group Class A ( (HK:6676) ) just unveiled an update.
ZG Group has announced a voluntary on-market share repurchase under the Share Repurchase Mandate approved by its shareholders. The company plans to repurchase up to 107,109,236 Class A Shares at a maximum price of HK$10 per share, using existing financial resources. This move is intended to reflect the company’s confidence in its long-term prospects and to enhance shareholder value. The board believes the current trading price does not reflect the company’s intrinsic value and aims to consolidate market confidence. However, the repurchase will be subject to market conditions and the discretion of the board, with no assurance on the timing or quantity of repurchases.
More about ZG Group Class A
ZG Group is a company incorporated in the Cayman Islands with limited liability, operating in Hong Kong under the name ZGW. It is controlled through weighted voting rights and is listed on the Hong Kong Stock Exchange.
Average Trading Volume: 1,106,193
Technical Sentiment Signal: Strong Sell
Learn more about 6676 stock on TipRanks’ Stock Analysis page.