Fully Revealing Its Great Confidence in Future Business Development
HONG KONG, May 13, 2014 /PRNewswire/ -- Hydoo International Holding Limited ("HYDOO" or the "Company"; stock code: 1396.HK), a leading developer and operator of large-scale trade centers in China, announced the Company repurchased 1,342,000 shares again on 12 May 2014 with the aggregate up to HK$3,913,180, and the price was between HK$2.82 and HK$3.00 per share. As of 12 May 2014, the company had repurchased a total of 3,812,000 issued shares, with the aggregate of HK$10,712,680. And the repurchasing proportion had been approximately 0.095%.
Mr. Wong Choihing, HYDOO's Chairman and Chief Executive Officer, said, "Our continuous share repurchases during the two trading days reflected the company's great confidence in the future prospects of our business. We believe the continuous share repurchases would strongly strengthen the shareholders' confidence as well. In light of the ongoing growth of our business and after taking our shareholders' interests into consideration, we will not rule out the possibility of making further repurchases when appropriate. In the future, we will further consolidate and improve the Group's leading position in the trading and logistic industry to reward our shareholders and society for their long-term support."
About Hydoo International Holding Limited
HYDOO is a leading developer and operator of large-scale trade centers in China, strategically focusing on the development of large-scale trade centers in third- and fourth-tier and selected second-tier cities in China. As of April 30, 2014, HYDOO has twelve trade center projects in nine provinces and autonomous regions in China. According to Savills, as of March 31, 2014, the Group is ranked first based on its number of large-scale trade centers in China. Besides, as of December 31, 2013, HYDOO had a total land bank of 7.83 million sq.m., which will be sufficient for its development needs for the next six years. HYDOO has a proven business model that focuses on property sales to owners of small and medium-sized enterprises, in regions where they develop and operate trade centers, which sets the Company apart from its competitors and allows it to replicate its success and benefit from similar demand in cities across China.
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SOURCE Hydoo International Holding Limited