Cosco completes $106M buyback as China share repurchases top $22B
What's the deal? CoscoDealroom has a profile for this one. Try Dealroom → Shipping Holdings has completed an A-share buyback, repurchasing 50.02 million shares for about US$103.8M. The shares, equal to 0.3276% of total stock, were bought at between US$1.88 and US$2.26 each and will be cancelled on October 8.
By the numbers: After cancellation, Cosco's A-share count falls to 12.507 billion. The shipping group posted first-half revenue of US$15.4B and net profit of US$1.85B.
Meanwhile: Pharmaceutical firm Allist is also moving. Chairman and chief executive officer Du Jinhao has proposed a buyback of between US$13.8M and US$27.5M, funding it personally through centralised bidding, with shares earmarked for employee ownership or equity incentives.
Why it matters: Allist reported first-half revenue of US$456.5M, up 39.85% year on year, and net profit of US$211.9M, up 46.57%.
The big picture: More than 3,400 listed companies have run buybacks this year, totalling over US$22B. September alone saw about 150 companies spend nearly US$1.65B, led by Zhongji InnolightDealroom has a profile for this one. Try Dealroom → at close to US$687.5M.
Why now? Lower rates on share-repurchase lending have widened the gap between high dividend yields and financing costs. For some firms with ample capacity, cancelling shares now beats the returns from new expansion.
The signal: Cancellation-style buybacks have topped half of new plans for the first time, with CATL and WuliangyeDealroom has a profile for this one. Try Dealroom → adopting full-cancellation schemes. State-owned enterprises are accelerating under market-value management reviews, marking a shift toward returning capital over chasing growth.
Read more: sohu.com
Image credit: JoeInSouthernCA
