Opinion | Director deals rise again but value sharply down

Director dealing in their own company shares was active for a third straight session last week, with 182 transactions worth HK$164 million reported to the stock exchange for the week from January 7 to 11.

The number of transactions was higher than the previous week's four-day total of 158 trades. The value, however, was sharply down from HK$323 million.

Buyback activity among listed firms was up, with 11 companies that posted 51 repurchases worth HK$358.5 million. While the number of firms was unchanged, the number of trades and value were sharply up from the previous week's four-day totals of 34 transactions worth HK$105.5 million.

Lee & Man Paper Manufacturing and Billion Industrial Holdings bought back shares for the first time following the sharp rise in their share prices; and among directors, Wheelock & Co chairman Peter Woo Kwong-ching was not deterred by the rise in the Wheelock share price from buying more shares.

Paper products manufacturer Lee & Man Paper bought back shares for the first time since the stock was listed in September 2003, with 5.84 million shares purchased from January 9 to 11 at an average of HK$4.89 each. The trades, which accounted for 23 per cent of the stock's trading volume, were made on the back of a 62 per cent rebound in the share price since July 2012 from HK$3.02.

The counter, which is sharply up since October 2011 from HK$2.24, closed at HK$4.92 on Friday.

Polyester filament yarn manufacturer Billion Industrial bought back shares for the first time since the stock was listed in May 2011, with 41.638 million shares worth HK$214.74 million purchased from January 9 to 11 at an average of HK$5.16 each.