HK-listed ZG Group jumps most in nearly five months on share buyback plan

ZG

30/09/2025 06:25

** ZG Group's 6676.HK shares jump as much as 16.4% to HK$2.55, set for biggest one-day pct rise since May 6

** Stock hits highest level since September 11

** Operator of third-party steel transactions digital platform says it plans to repurchase up to 107.11 mln Class A shares at max price of HK$10/share in open market with existing internal funds

** "The board considers that the prevailing trading price of the Class A Shares does not reflect the company’s intrinsic value and business prospects, and that the share repurchase reflects the company’s confidence in its long-term business prospects" - Co

** YTD, Hong Kong stock down 77.2%, benchmark Hang Seng Index .HSI up 32.8%

($1 = 7.7800 Hong Kong dollars)

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))