SHIMAO PROPERTY (813 : HK) Sector: PTY    
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).
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