-- Repurchases a Total of 5,842,000 Shares
-- Reflecting Its Great Confidence in Future Business Development
HONG KONG, May 19, 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 that following the repurchase of 2,470,000 shares on 9 May, the Company conducted four stock repurchases last week, with 1,342,000 shares on 12 May, 2,028,000 shares on 14 May, 2,050,000 on 15 May and 422,000 shares on 16 May, to reach a total of 5,842,000 shares and an aggregate amounted to HK$16,464,780. The stock price ranges between HK$2.68 and HK$3.00 per share.
Mr. Wong Choihing, HYDOO's Chairman and Executive Director, remarked, "Our frequent share repurchase recently reflected the company's great confidence in our value and future prospects. At the same time, we believe the share repurchase would further strengthen the shareholders' confidence. 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, and continuously enhance our returns on equity 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