Tongguan Gold Shares Surge Over 4% Following Announcement of Up to HK$300 Million Share Buyback Plan

Stock News06-17 09:55

Shares of TONGGUAN GOLD (HKEX: 00340) have risen more than 4%. At the time of writing, the stock is up 4.04% to HK$2.06, with a turnover of HK$3.69 million.

The increase follows a company announcement stating its board of directors resolved on June 16 to implement a share repurchase plan. Subject to market conditions and the share buyback mandate approved by shareholders on May 29, 2026, the company will from time to time repurchase its shares on the open market, utilizing a maximum total amount not exceeding HK$300 million.

The board indicated that the buyback plan is intended to reinforce management's confidence in the company's future and to highlight its positive business outlook. The repurchases will be funded entirely from the company's internal resources to ensure financial stability without reliance on external financing.

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