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BEIJING, Oct. 2, 2021 /PRNewswire/ — Joy Spreader Group Inc. (HKG: 6988; “the Group”) announced on September 29 the repurchase of 989,000 shares of its own stock for a total consideration of HK$2.137 million (approx. US$277,800) at prices ranging from HK$2.14 (approx. US$0.27) to HK$2.19 (approx. US$0.28) per share.
Joy Spreader announced on July 30 that in accordance with resolutions passed by the shareholders of the company at the annual general meeting held on 30 June 2021, the directors of the company were given a general mandate to buy back up to but not more than 10 per cent of the total shares of the firm in circulation on June 30, 2021. The Group also plans to implement a share repurchase program at the appropriate time following the release of its interim results for the six months ended June 30, 2021.
Analysts concurred that the share repurchase will help increase market confidence in Joy Spreader’s growth and protect the interests of the Group and its shareholders as a whole.
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Source: Joy Spreader Group Inc.