HK Stock Market Move | Liaoning Port (02880) is now up more than 4%, with the company recently announcing its first share buyback of 6.5 million A shares. This follows an earlier announcement of a buyback plan and shareholder increase.

Liaoning Port (02880) is now up more than 4%, as of the time of writing, it is up 2.86% to HK$0.72, with a trading volume of HK$4.35 million. In terms of news, Liaoning Port announced that on November 13, 2024, the company repurchased 6.5 million A-shares through the Shanghai Stock Exchange trading system through centralized bidding, accounting for 0.0272% of the total share capital, with a total amount paid of RMB 105.85 million. It is reported that on September 2, the board of directors received a letter from the controlling shareholder Yingkou Port Group proposing that the company use its own funds to repurchase some shares again, for the purpose of canceling and reducing the company's registered capital, with a total repurchase amount of RMB 4.2 billion to RMB 8.4 billion. It is worth noting that Liaoning Port previously announced that one of its controlling shareholders, Dalian Port Group Co., Ltd. (Dalian Port), plans to increase its A-share holding of the company through the Shanghai Stock Exchange, with the amount ranging from RMB 2.5 billion to RMB 5 billion, and the maximum purchase price per share at RMB 2.06, with an implementation period of 12 months. In addition, Dalian Port signed a cooperation agreement with the Bank of China to secure a loan support of up to RMB 3.5 billion for increasing its holding in Liaoning Port.