The Insider | Kasen International and Central China Securities Co complete share buybacks while mixed messages from executives at AV Concept
Eight companies that posted 25 repurchases worth HK$61 million based on filings from February 20 to 23, a holiday-shortened trading week
The buying fell while the selling among directors rebounded sharply based on filings on the exchange during the holiday-shortened week of February 20 to 23. A total of 15 companies recorded 48 purchases worth HK$109 million (US$13.93 million) versus six companies with 17 disposals worth HK$7.3 million.
Meanwhile, the buyback activity fell for the first time in the past three weeks with eight companies that posted 25 repurchases worth HK$61 million based on filings from February 20 to 22.
Several firms recorded rare repurchases this month with buybacks in Kasen International, Central China Securities, Cybernaut International and AV Concept Holdings. The buybacks in AV Concepts were not totally bullish as there were sales by two directors of the company this month, one of which was by founder and chairman Dr. So Yuk-kwan.
Mainland furniture and leather products manufacturer Kasen International repurchased 16.1 million shares from February 9 to 22 at an average of HK$1.40 each. The Group previously acquired 12.2 million shares from December 2009 to July 2010 at an average of HK$1.89 each, as well as 817,000 shares in November 2008 at an average of 73 HK cents each and nearly 24 million shares in August 2006 at an average of HK$1.05 each. The stock closed at HK$1.49 on Friday.
Significant Points
The recent buybacks are the group’s first repurchases since 2010
