Hot stock: Yangzijiang Financial up 10.3% after proposing share buyback mandate
Helene Tian
SHARES of Yangzijiang Financial Holding (YZJFH) rose in early morning trade on Tuesday (May 24), after the company said it was proposing a share buyback mandate.
The counter traded as high as S$0.48 as at 9.56 am, up 10.3 per cent or S$0.045.
No married deals were recorded, according to ShareInvestor data.
At 10.08 am, the counter was still trading at its high of S$0.48, and remained one of the most actively traded counters by volume, with 35.8 million shares worth S$16.7 million changing hands.
YZJFH on Monday said it was seeking shareholders’ approval for the company to adopt a share buyback mandate.
The proposed mandate would allow the company to buy back up to 10 per cent of its own issued ordinary share capital.
YZJFH, the investment unit of Yangzijiang Shipbuilding, was spun off and listed on the Singapore Exchange earlier in April this year.
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