China Overseas Land and Investment (0688) has repurchased around 116,500 shares at a total of HK$2.79 million, the first time in 15 years, local media reported. The shares were bought back at HK$23.95 apiece. The company said the current stock price of the company is a 12.5 percent discount compared with its net asset value per share of HK$27.6, reflecting that the shares are undervalued. It said the repurchase could be a support of its share price. The stock slid 1.43 percent to close at HK$24.15 today.

Source: The Standard June 12, 2020 11:03 UTC