Onewo (HKG:2602) intends to spend a maximum of HK$5.80 billion to repurchase shares in the secondary market, according to a Tuesday filing with the Hong Kong Exchange.
The property manager is authorized to repurchase up to 117.5 million shares, representing 10% of the total number of Hong Kong shares in issue, under its buyback mandate.
Onewo is the property services provider unit of China Vanke (SHE:000002, HKG:2202).
The company's shares were up almost 9% in recent trade.
Price (HKD): $26.20, Change: $+2.15, Percent Change: +8.94%
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