not vested
CK Property buys back own sharesby Esther Yu
Cheung Kong Property (1113) bought HK$1.22 billion worth of its own shares last week and analysts say the company may further resort to shares buybacks after it announces its annual results in March.
As of January 20, the firm has undertaken buybacks for five days in a row at an average price of HK$51.17 for 23.8 million shares.
It has now entered a blackout period which bars it from buying or selling its shares ahead of its upcoming annual results announcement.
While the buybacks will stop for now, market watchers believe they are "highly likely" to continue after it announces its annual results.
CK Property yesterday closed 0.2 percent lower at HK$50.35.
Meanwhile, Australia's new infrastructure oversight body is fueling concerns Cheung Kong Infrastructure Holdings' US$5.5 billion (HK$42.9 billion) bid for DUET Group will be blocked or modified, pushing shares in the energy firm lower.
Australia on Monday announced the formation of the Critical Infrastructure Center, which will check whether foreign-led bids for key assets, including power grids and ports, pose any national security risks.
Three investment bankers with experience in the infrastructure sector said they believed the new body increased the prospect the DUET deal was unlikely to be given the green light from the Australian government in its current form.
They said that at a minimum, local ownership requirements were likely to be imposed on some of the assets.
"People do feel a bit nationalistic about this type of thing," Morningstar analyst Adrian Atkins said.
Source: The Standard
http://www.thestandard.com.hk/section-n ... 0125&sid=2
It's all about "how much you made when you were right" & "how little you lost when you were wrong"