BEIJING, Oct. 2, 2021 /PRNewswire/ — Joy Spreader (HKG: 6988, “the Group”) announced an additional investment of HK$2.898 million (approx.US$376,700) to buy back 1.178 million of its shares at a price of HK$2.46 per share (approx.US$0.32) on September 30.
Combined with the shares repurchased on the prior day, the company bought back 2.167 million shares in the aggregate for a combined consideration of HK$5.035 million (approx.US$654,500).
Analysts said that the ongoing share repurchase fully demonstrates the Group’s confidence in its long-term growth while serving as a significant step in protecting the interests of its shareholders and in improving the return on investment.
As a result of the announcement concerning the share repurchase, the firm’s stock price closed up over 12.84 per cent on September 30.
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Source: Joy Spreader Group Inc.