China’s Meat Giant WH Group Jumps on HK$15 Billion Buyback Plan
(Bloomberg) — WH Group Ltd. shares surged the most in more than a year after the worlds biggest pork company said it plans to repurchase as much as HK$15 billion ($1.9 billion) worth of stock.
The company proposes to buy back and cancel about 13% of its issued shares at HK$7.80 each, it said in a filing to the Hong Kong stock exchange Sunday. The price represents a premium of 17.3% over the June 1 closing price of HK$6.65.
WH Group shares rose as much as 11% to HK$7.54 in Hong Kong as trading resumed…
