West China Cement chairman shares buy positive - DB

West China Cement chairman shares buy positive - DB
Published: 07 September 2012

Tagged Under: China West China Cement 

Deutsche Bank (DB) says according to Hong Kong Stock Exchange filings West China Cement’s chairman, Zhang Jimin, has been buying back shares for the last few weeks since Aug. 16 (7.2 million shares at a weighted average price of HK$1.20/share). It adds, Zhang's shareholding has increased by 15 bps to 38.53% of the total issued share capital.

 "We believe the chairman will continue buying shares at current levels given it appears he finds the current valuation attractive. More importantly, we believe the continuous share buybacks indicate the confidence of the chairman in West China Cement. (Source: Dow Jones Global Equities News)