On September 22, ZTO EXPRESS-W fell 4.45% in regular trading to HK$156.8 per share, with turnover surging to HK$941 million. The stock earlier touched an intraday low of HK$152, hitting its lowest level since November last year.
The decline was triggered by reports that Alibaba is selling approximately $500 million (roughly HK$3.9 billion) worth of ZTO Express ADR through an unregistered block trade, involving around 25 million ADR shares. The offering was reportedly priced at $20.02 per share, at the low end of the $20.02–$20.22 indicative range, representing a 4.5% discount to the prior Friday close of $20.96. Overnight, ZTO Express ADR had already fallen 7.2% to $19.45 in New York.
Meanwhile, ZTO EXPRESS-W has been actively buying back shares. On September 21, the company repurchased 499,161 ADR shares for approximately $9.61 million at prices between $18.96 and $20.00. Since its June 16 authorization, the company has cumulatively repurchased over 10.2 million shares out of a 76.6 million share buyback mandate.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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