CITIC Dameng (01091) said it has repurchased on the open market yesterday the first batch, being 796,000 shares, at HK$0.74 per share for a total of HK$589,040, which is funded by the internal resources.
The Board believes that the current share price of CITIC Dameng is significantly below its intrinsic valuation and presents a good opportunity for CITIC Dameng to repurchase its shares and show its confidence in the future prospects.
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