Hong Kong & China Gas flat after setting shr buy-back price

Hong Kong & China Gas (0003) shares were flat after the company fixed the price of its share buyback at HK$9.70, taking 364.48mln shares, dealers said. Kenny Tang, associate director of Tung Tai Securities, said Hong Kong & China Gas is unlikely to propose another share buy-back in the medium term. On the back of the share purchase scheme, its ROA should rise to 17.0 pct from 15.0 pct and its ROE will improve from 18.0 pct to 21.0 pct, the analyst said.

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