Axera Semiconductor (HKG:0600) said its independent professional trustee bought HK$53.3 million worth of the company's shares on the open market because they were "undervalued" and offered an attractive buying opportunity, according to a Thursday bourse filing.
Shares were last up 6% in Friday midday trading.
The Chinese fabless AI chipmaker said the trustee bought 2.5 million H shares at HK$21.17 apiece.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments