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TDUX
Sep 30 - 01:55 AM
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Gold - Shandong Gold Climbs Most In Two Weeks As Chairman Plans To Buy A Shares

By Donny Kwok  —  Sep 29 - 10:44 PM

• Hong Kong shares of Shandong Gold Mining climb 3.8% to HK$19.24, on track for their biggest one-day pct gain September 16

• Shanghai-listed stock gains 1.7% to 26.95 yuan, on course for biggest one-day pct rise since September 16

• Chinese gold miner says Chairman Wang Chenglong plans to repurchase company A shares through centralised bidding trading for 300 million-400 million yuan ($44.75 million-$59.66 million) with his self-owned funds

• Wang will repurchase the A shares in the next 12 months to reflect his confidence in the company's future development prospects and recognition of the company's value, while maintaining the stability of share price - co

• YTD, Hong Kong stock down 44.4%, Shanghai-listed shares down 30.6%, the benchmark Hang Seng Index down 4.5%

($1 = 6.7045 Chinese yuan)

(Reporting by Donny Kwok)

Source:
London Stock Exchange Group | Thomson Reuters
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