HK Stock Movement | PACIFIC BASIN (02343) Rebounds Nearly 5% as Company Continues Share Buybacks, Accumulating Over HK$300M Year-to-Date

Stock News2025-11-28

PACIFIC BASIN (02343) rebounded nearly 5%, rising 4% to HK$2.6 by the time of writing, with a trading volume of HK$15.77 million. On November 25, the company spent HK$7.09 million to repurchase 2.74 million shares. Since November 18, PACIFIC BASIN has conducted buybacks for six consecutive days, totaling 24.307 million shares at a cumulative cost of HK$63.28 million. Year-to-date, the company has executed 41 buybacks, amounting to HK$311 million. Notably, on November 11, the first shipment of iron ore from the Simandou project was transported by the Winning Consortium, marking the project's official commencement. GF Securities noted that in the next 2-3 years, iron ore will be the primary driver of demand for mainstream dry bulk shipping, contributing significantly to both volume and ton-mile growth. The key catalyst is the gradual shipment commencement from the Simandou iron ore project.

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