CKA's $177m share buyback stems decline
CKA's shares tumbled as much as 12.8 percent on Friday, evaporating HK$14 billion in market capitalization, after it cut its final dividend more than market estimates.
The drop could also be attributed to CKA's potential exclusion from the FTSE EPRA Nareit Global Real Estate Index during its review in May.
When Henderson Land Development (0012) was excluded in 2022, its shares fell 4 to 5 percent.
Last Thursday, CKA said its net profit fell 19 percent to HK$17.3 billion and slashed the final dividend by 12.4 percent to HK$1.62 per share.
Source: The Standard
https://www.thestandard.com.hk/section- ... ms-decline
