BUZZ-ENN Energy rises most in more than five months on share buyback plan

Reuters2024-09-24

** Shares of ENN Energy Holdings rise 6.8% to HK$53.40, on track for biggest one-day pct rise since April 10

** Stock hits the highest since Aug. 27, on course for a fifth straight session of gains; top pct gainer in the Hang Seng Utilities Index , which is up 1%

** Chinese piped and liquefied natural gas distributor says it will utilise up to HK$300 mln ($38.55 mln) to acquire shares from the open market for Share Award Scheme, to expand scope of employee incentive

** Co also says it will utilise up to another HK$300 mln to repurchase shares from the open market as part of its share buyback plan

** The Hang Seng China Enterprises Index jumps 4.5% and the Hang Seng Index surges 3.6%

** ENN shares down 7.7% YTD

($1 = 7.7830 Hong Kong dollars)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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