Cafe de Coral Holdings Ltd. (HK:0341) has released an update.
Café de Coral Holdings announced the repurchase of 300,000 shares on the Hong Kong Stock Exchange for HK$2,414,180, reflecting the board’s belief that the current share price doesn’t fully represent the intrinsic value of the company. The buy-back, funded by internal resources, is seen as an opportunity to boost earnings per share and return on capital, indicating the board’s confidence in the long-term prospects of the company. Share repurchases will continue to be made at the discretion of the board, based on market conditions.
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