Stock Track | Ever Glory Soars 4.70% Post-Market on Annual Report Release and Share Buyback Proposal
Stock Track
Apr 10
Ever Glory's stock price surged 4.70% in post-market trading on Friday, following the release of the company's FY2025 annual report.
The price movement appears to be driven by investor optimism surrounding the company's proposed renewal of its share buyback mandate. According to the annual report, the board has set an AGM to seek approval for a buyback program that would allow repurchases of up to 10% of issued shares. The company noted that even a full buyback would maintain its public float above the minimum listing requirement.
Share buyback programs are typically viewed positively by investors as they can signal management confidence and potentially increase earnings per share by reducing the number of shares outstanding.
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