Xiaocaiyuan International (HKG:0999) said it plans to buy back up to 1.5% of its totaled issued shares from the open market, according to a Tuesday filing with the Hong Kong bourse.
The restaurant operator's shares gained nearly 2% in midday trade Wednesday.
The firm will use internal funds to buyback up to 17.6 million shares from the market, it said.
Huicheng International (HKG:1146) said it agreed to issue 100 million shares to Zhang Kailun, the daughter of its chairman and chief executive Zhang Yongli, according to a Tuesday filing with the Hong Kong bourse.The apparel maker's shares were up nearly 8% in recent trade.The shares, which represent 2.82% of the company's enlarged share capital, will be issued at HK$0.10 each or HK$10 million in total.Zhang and parties acting in concert with the subscriber held 48.48% of the company's issued share capital before the subscription. The sale will bump their ownership to 49.94% and the firm has applied with Hong Kong authorities for a waiver from making a takeover bid for the business.The share sale will help replenish the company's cash resources in light of the continued underperformance of the business.
AXISCADES Aerospace & Technologies, a wholly-owned subsidiary of AXISCADES Technologies (NSE:AXISCADES, BOM:532395), has secured an order worth 69 million Indian rupees from the Research & Development Establishment (Engineers), according to a Wednesday filing to the Indian stock exchanges.Research & Development Establishment (Engineers) comes under the Defence Research and Development Organisation (DRDO), Ministry of Defence, India.The contract is for the manufacturing and supply of a mobile mast system, including the manufacturing, integration, qualification testing, documentation, and delivery.If successfully completed, the mobile mast could be deployed in other air defense systems across the country.
The Orissa Minerals Development Co. (NSE:ORISSAMINE, BOM:590086) named M N V S Prabhakar as its new non-executive chairman, effective May 25, according to an Indian bourse filing on Tuesday.Shares of the company rose 1% in Wednesday's trade.He currently heads Rashtriya Ispat Nigam as chairman and managing director.Prabhakar succeeds Manish Raj Gupta, who held additional charge as chairman and managing director of Rashtriya Ispat Nigam, the filing said.