• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Geely Auto sees buyback by Chairman and Parent Group

by November 27, 2024
written by November 27, 2024

Geely Auto (HK:0175) witnessed a significant share buyback by its parent company, Geely Group, and its Chairman, Mr. Shufu Li.

The buyback consisted of approximately 48.4 million shares, translating to around 0.5% of the total shares outstanding, at an average price of HK$13.04. The transaction, which occurred over the course of November 26-27, amounted to a total of HK$631 million.

“We think the buyback by the parent group and Chairman Li illustrates strong conviction in Geely’s recent restructuring and potential synergy emerging from the integration of its various NEV brands,” Morgan Stanley (NYSE:MS) analysts wrote in a note.

This move has increased Mr. Li’s ownership stake in the company to 41.4%, valued at HK$54.8 billion, while Geely Group now holds 39.22%, equivalent to HK$51.9 billion of Geely Auto. The buyback demonstrates a continued commitment from the company’s leadership to invest in its own stock, supporting the value in the eyes of investors and the market at large.

The recent buyback is not an isolated event. Chairman Li has previously shown confidence in Geely Auto by purchasing shares back in May 2018 and December 2016. These consistent buybacks by the Chairman suggest a pattern of bolstering stakeholder confidence during various market conditions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Court overturns US sanctions against cryptocurrency mixer Tornado Cash
next post
Will Trump be bullish or bearish forcommodities?

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Procter & Gamble to cut 7,000 jobs as part of broader restructuring

      June 6, 2025
    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

      June 6, 2025
    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

      June 5, 2025
    • This California startup is cleaning water and removing CO₂ from the atmosphere — all at a reduced cost

      June 5, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (504)
    • Stock (6,426)

    Latest News

    • Procter & Gamble to cut 7,000 jobs as part of broader restructuring
    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

    Popular News

    • Analysis-US port strike throws spotlight on big union foe: automation
    • Novo Nordisk shares rally despite setback in obesity drug trial results

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy