China Yuchai International shares are trading higher after the company announced a repurchase of $40 million or 4 million shares (whichever occurs earlier).
Portfolio Pulse from Benzinga Newsdesk
China Yuchai International shares are trading higher following the company's announcement of a $40 million share repurchase program, which will cover up to 4 million shares.
June 07, 2024 | 3:19 pm
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China Yuchai International announced a $40 million share repurchase program, leading to a rise in its stock price. The buyback will cover up to 4 million shares.
Share repurchase programs typically signal confidence from the company in its own stock and can lead to a higher stock price due to reduced supply and increased demand. The $40 million buyback is a significant amount, likely to positively impact CYD's stock price in the short term.
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