The Insider | Hong Kong company directors’ selling of shares increases in latest week
Lee Shau-kee unloads HK$261 million worth of shares in his Henderson Land Development, while Country Garden vice-chairwoman Yang Huiyan buys 26.3 million shares in her firm
Hong Kong company directors sold more shares in their own firms in the week of December 11 to 15 while buying activity was little changed from the previous week, according to filings to the Hong Kong stock exchange.
A total 67 companies recorded 354 purchases worth HK$595 million (US$76.2 million) in the week, not far off from the previous week’s 70 firms and HK$561 million, but the number of purchases was down from the previous week’s 413.
In comparison, eight firms recorded 35 share disposals worth HK$300 million, up from the previous week’s 28 disposals worth HK$248 million, although the number of companies reporting sales was down from the previous week’s 12.
Meanwhile, buy-back activity fell, with 30 companies seeing 127 repurchases worth HK$257 million, based on filings from December 8 to 14. The figures were down from the previous five-day totals of 39 firms, 172 trades and HK$518 million in value.
The rise in the selling value last week was mainly due to tycoon Lee Shau-kee, who unloaded a further HK$261 million worth of shares in his Henderson Land Development. That brought his total disposals this month to 9 million shares worth HK$442 million at an average of HK$49 per share. They were Lee’s first disposals in Henderson Land since 1993, according to filings. Henderson Land shares closed at HK$49.85 on Friday.
