 2015-03-31 |
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Yanzhou: Land Sale Boosts Stock Price
March 29, 2015
Yanzhou (4306) has seen its stock price surge following plans to sell land in Linkou and initiate a share buyback program. Last Friday, under targeted buying pressure, the stock price briefly hit the maximum allowable increase and closed at NT$15.10, up 4.86%, with trading volume of 8,456 shares, a dramatic 16-fold increase compared to the previous trading day. Foreign investors net bought 236 shares.
Last year, due to the sharp drop in oil prices impacting BOPP market conditions and resulting in price losses, Yanzhou’s EPS was only NT$0.28. The board decided to distribute a cash dividend of NT$0.25 per share.
Yanzhou plans to sell land and buildings in the Jianlin Section of Linkou District and has obtained the relevant valuation report. From now until May 26, Yanzhou is expected to repurchase up to 10,000 shares of its own stock on the centralized market, with the buyback price ranging from NT$14 to NT$20 per share. |
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