Pop Mart's First Share Buy-Back in Two Years Sparks 10% Stock Surge

Pop Mart’s Hong Kong-listed shares rose to HK$198.70 at the open as investors welcomed the move. Shares were up 8.5 per cent at HK$196.10 at the noon break. The company repurchased 1.4 million shares for a total of HK$251 million (US$32 million) on Monday, according to an exchange filing. The shares were bought at prices ranging from HK$177.70 to HK$181.20. “Pop Mart’s share buy-back signals management’s confidence and a healthy balance sheet,” said Wang Qi, chief investment officer at UOB Kay Hian’s private wealth management division in Hong Kong. With over 13 billion yuan (US$1.8 billion) in cash, the company had ample room for such initiatives to enhance shareholder returns, Wang added.