Shimao Property (813.HK) resumes buying back on 12% price fall
Mainland property developer Shimao Property Holdings Limited (813.HK) [MKT CAP 34.6B] picked up where it left off in July with 7 million shares purchased from September 30 to October 11 at $10.50 to $10.04 each or an average of $10.35 each [3MTH +21%(92%)/6MTH +107%(100%) 36 FILINGS-OCT 2008]. The trades, which accounted for 14% of the stock's trading volume, were made after the stock fell by as much as 12% from $11.46 on September 9. Despite the fall in the share price, the counter is still up since August from $9.67. The Group previously acquired nearly 40 million shares from July 4 to 29 at $9.73 to $10.46 each or an average of $10.13 each. Prior to the repurchases this year, the Company acquired 84.1 million shares from September to October 2011 from $7.24 to $5.39 each or an average of $6.12 each and 56.2 million shares from October to November 2008 at $3.05 to $4.74 each or an average of $3.76 each. Investors should note that Chairman Hui Wing Mau acquired 8.75 million shares from April 1 to 8 at $10.67 to $11.00 each or an average of $10.75 each [AI SCORE 2.2; 3MTH +7%(38%)/6MTH +5%(46%) 368 BUYS-2007], which increased his holdings to 2.299 billion shares or 66.21% of the issued capital. He previously acquired nearly 34 million shares from July to September 2015 at $13.58 to $10.04 each or an average of $11.04 each and 40.3 million shares from June 2013 to June 2014 at $15.70 to $13.84 each or an average of $14.41 each. Prior to his trades since 2013, the Chairman acquired 132 million shares from January 2010 to November 2011 at $13.50 to $5.59 each or an average of $10.47 each and 135 million shares from June 2007 to December 2009 at $20.05 to $3.89 each or an average of $11.21 each. Shimao Property announced its 1H results on August 30 with profit attributable to shareholders down by 14.9% to RMB 3.028 billion 6 months to 30 June 2016. The stock closed at $10.20 on October 13 (Asia Insider News Oct 12, 2016).
The content on this site, including news alerts, quotes, data and other information, is provided by Asia Insider Limited and its third party content provider for your personal information only, and is not intended for trading purposes. Content on this site is not appropriate for the purposes of making a decision to carry out a transaction or trade. Nor does it provide any form of advice amounting to investment advice, or make any recommendations regarding particular financial instruments, investments or products.
Asia-insider.com does not provide investment advice nor recommendations to buy or sell securities. We do not request personal information in any unsolicited email correspondence with our customers. Any correspondence offering trading advice or unsolicited message asking for personal details should be treated as false and reported to email@example.com.
Neither Asia Insider Limited nor its third party content providers shall be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. ASIA INSIDER LIMITED EXPRESSLY DISCLAIMS ALL WARRANTIES, EXPRESSED OR IMPLIED, AS TO THE ACCURACY OF ANY THE CONTENT PROVIDED, OR AS TO THE FITNESS OF THE INFORMATION FOR ANY PURPOSE.
Although Asia Insider Limited makes reasonable efforts to obtain reliable content from third parties, Asia Insider Limited does not guarantee the accuracy of or endorse the views or opinions given by any third party content provider. This site may point to other Internet sites that may be of interest to you, however Asia Insider Limited does not endorse or take responsibility for the content on such other sites.
Asia Insider News Alerts
Whilst Asia Insider Limited has used reasonable endeavours to ensure that the information provided by Asia Insider in its news alerts are accurate and up to date as at the time of issue, it reserves the right to make corrections and does not warrant that it is accurate or complete. News will change with time. Asia Insider Limited hereby disclaims all liability to the maximum extent permitted by law in relation to the news alerts and does not give any warranties (including any statutory ones) in relation to the news. This is a free service and therefore you agree by receiving any new alert(s) that this disclaimer is reasonable. Any copying, redistribution or republication of Asia Insider news alert(s), or the content thereof, for commercial gain is strictly prohibited.
Third Party Legal Notices
The HK, Singapore and Australian Substantial Shareholder filings and Company buyback transactions are the copyright of The Stock Exchange of HK Limited, Monetary Authority of Singapore and The Australian Stock Exchange, respectively. It endeavours to ensure the accuracy and reliability of the information provided but does not guarantee its accuracy or reliability and accepts no liability (whether in tort or contract or otherwise) for any loss or damage arising from inaccuracies or omissions.
All rights reserved. Users may download and print extracts of content from this website for their own personal and non-commercial use only. Republication or redistribution of Asia Insider content, including by framing or similar means, is expressly prohibited without the prior written consent of Asia Insider Limited. The Asia Insider logo is a registered trademark of Asia Insider Limited.