PPRuNe Forums - View Single Post - Cathay to buy back 10% of company stock
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Old 25th Apr 2009, 16:21
  #23 (permalink)  
Knutsford
 
Join Date: Jun 2006
Location: Hong Kong
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I think you will find that this is just a poorly reported, or translation of, a general mandate to issue or repurchase shares. Any actual transaction must be reported to HKEx, for example, this one:

http://www.hkexnews.hk/listedco/list...0080310187.pdf

This is the last transaction I can find for CX, and what a shrewd purchase it was.

These general mandates are extremely common in Hong Kong, although it is usually the issuance of shares with no pre-emptive rights for share holders that is the issue for those concerned with corporate governance. (David Webb and Project Vampire).

Make your own mind up, but I think this is nothing more than a red herring.
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