Evergrande launches first repurchase of shares this year
Real estate developer reports 304.18 billion yuan in sales, for an average selling price of 10,468 yuan per square meter
The Evergrande Group, China’s second-largest property developer by sales, has invested HK$286 million (US$36.46 million) to repurchase 14.129 million shares of the company, accounting for 0.107% of the firm’s total shares, The Paper reported.
The repurchase price is between HK$19.32 to 20.8 per share. It is the first time in 2018 for the company to carry out a repurchase.
Last year, it repurchased company shares nine times for a total of HK$6.3 billion in a month.
On the same day, the real estate developer disclosed its sales data for the first six months, reporting a total of 304.18 billion yuan in sales, for an average selling price of 10,468 yuan per square meter.
The company reported a closing price of HK$20.75 per share as of July 3, up 3.75% from the previous day.