Country Garden Services (06098) opened nearly 10% higher in early trading. As of press release, the stock price rose 6.94% to HK$5.70, with a turnover of HK$68.6368 million.
Country Garden Services announced that, depending on market conditions, no more than 0.334 billion shares will be purchased on the open market, accounting for 10% of the company's total share capital. The purchased shares will be used as treasury shares for the adopted share plan or cancellation. According to the announcement, the share repurchase reflects the Group's full confidence in the long-term prospects of its business, improving shareholders' returns, and conforms to the overall interests of the company and shareholders. The Board also believes that the Group is in a sound financial position and can maintain sufficient financial resources to meet the continued growth of the Group's business while repurchasing shares.
