Hong Kong-listed AI company Zhipu  said on November 10 that its chair had proposed a share buyback up to HK$4 billion (US$510 million). The proposed repurchase would cover up to 1% of total issued shares as of the announcement date.

Data from Wind showed that 372 Hong Kong-listed companies had repurchased more than HK$130 billion (US$16.6 billion) of shares this year through November 11, up from 241 companies in the same period last year.

Companies in information technology, healthcare, and consumer staples sectors also contributed to the increase in buyback.

Share buybacks by Hong Kong-listed companies are subject to Hong Kong Exchanges and Clearing’s Listing Rule 10.06. Companies can use general repurchase mandates to obtain shareholder authorization for buybacks, subject to the rule’s requirements.

🔗 Source: Yicai

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