Shares of SF INTRA-CITY (HKEX: 09699) surged more than 9% during the trading session. As of the latest update, the stock is up 4.07%, trading at HK$8.69, with a turnover of HK$50.6362 million.
On June 8, SF INTRA-CITY announced that its board of directors has resolved to utilize the share repurchase mandate. Subject to market conditions, the company may repurchase H shares on the open market from time to time, with a maximum expenditure of HK$400 million. The repurchased H shares will be cancelled in due course. The company intends to fund the proposed share repurchase using its own financial resources.
Previously, SF INTRA-CITY disclosed that its subsidiary, Shenzhen SF Intra-City Logistics Co., Ltd., together with Xiamen Zhuopu Zhiyuan Investment Partnership and 13 individuals, entered into a partnership agreement to establish Suzhou Xiaoyu Chengxi Venture Capital Investment Partnership. The fund is a private equity investment vehicle primarily targeting investments in privately-held companies within sectors such as artificial intelligence, embodied AI, low-carbon and new energy, logistics technology, and new opportunities in local living services. The final name is subject to official business registration.
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