TENCENT Buys back 2.66M Shrs for $1.003B
$TENCENT(00700.HK$ disclosed in its statement that it repurchased 2.66 million shares of the company on the Stock Exchange of Hong Kong at a price of $373.6-380 per share on 13 June, involving about $1.003 billion.
Since the ordinary resolution was passed, TENCENT has repurchased 48.85 million shares, accounting for 0.51861% of the company's share capital.
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wafflewolfeh : What does it mean when Tencent conducts share buybacks? Is it because they think it’s undervalued and it’s a good time for them to increase their holdings again?