Deep Source Holdings (HKG:0990) planned to repurchase shares in the open market under a shareholder-approved mandate, according to a Tuesday Hong Kong bourse filing.
The company was authorized to repurchase up to 1.48 billion shares, representing 10% of its issued share capital.
The metal distributor's shares jumped nearly 8% in recent trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.