Summary by Moomoo AI
Anta Sports Limited ("Anta Sports") announced on August 27, 2024 that it will implement a share repurchase plan. The plan is based on a resolution passed by the shareholders at the annual meeting on May 8, 2024, authorizing the board of directors to repurchase up to 10% of the total issued shares. Anta Sports plans to use up to 10 billion Hong Kong dollars for the share repurchase within 18 months, and the repurchased shares will be cancelled. The board of directors stated that this action aims to promote shareholder interests and the long-term capital appreciation of the company, believing that the current stock price is lower than the actual value. The share repurchase will strictly comply with relevant laws and regulations, and will not cause the public shareholding ratio to fall to the specified minimum percentage, nor trigger any full tender offer obligation. The specific implementation of the share repurchase will depend on market conditions and will be fully decided by the board of directors.
