CENTRAL: A total of 26 companies recorded 114 purchases by directors worth HK$125 million (US$15.9 million) versus 12 firms with 41 disposals worth HK$69 million. The buy figures were sharply up from the previous week’s 13 companies, 56 purchases and HK$39 million while sales were slightly up from the previous week’s nine firms, 34 disposals and HK$60 million.
More companies bought back their own shares in the March 16 to March 22 period, with 10 companies posting 22 repurchases worth HK$217 million, up from the previous five days’ seven companies buying back HK$152 million.
The bulk of the director and buy-back transactions last week were made following announcements of companies’ earnings results. There were also several rare transactions last week, with a buy-back in real estate trust Link Reit and buybacks and a purchase by the CEO of electronics maker Techtronic Industries. On the selling side, two non-executive directors of conglomerate NWS Holdings recorded rare disposals following a sharp gain in the company’s share price.
The latest buy-back was made on the back of an 8 per cent drop in the unit price since January from HK$74.25. Link Reit resumed buy-backs this month at sharply higher than the price it paid in 2016.
