[ET Net News Agency, 8 June 2021] WH Group (00288) yesterday said it intends to
purchase up to HK$15bn of its outstanding shares, which will be paid for largely by debt.
The offer price is HK$7.80 per share.
Goldman Sachs said this is the first time the company has announced a share buyback
since its IPO in 2014. The research house sees this as reflective of the company's view
that the current share price is undervalued and of management's proactive approach to
improving shareholder value.
Goldman also views the magnitude of the announced buy-back as indicative of the
company's solid cash flow and healthy balance sheet. It thinks the buyback should add
support to the share price, and reiterated its "buy" rating, with an unchanged target
price of HK$9.4. (KL)
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00288 WH GROUP
Nominal 
5.800 +0.320 (+5.839%) Research Report
08/06/2021 11:54
{I-bank focus}WH Group's buyback tells solid cash flow - GS
| Remark: | Real time quote last updated: 23/04/2024 17:59 |
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