Hong Fok Corp’s share buyback brings up share price by 37%

We noted Hong Fok Corp has been actively buying back their own shares since mid-March.

Hong Fok Corp bought back their own shares in 34 days out of the 35 trading days from 17-Mar-20 to 6-May-20.

11 million shares were bought back during this period, and the share buyback made up about 75% of the total volume.

The share buy back also sends its share price 37% higher — from the low of $0.535 (17-Mar) to $0.735 (6-May).