Joy Spreader Group to Invest Additional HK$2.898 Million to Repurchase 1.178 Million of its Own Shares

BEIJING, Oct.1, 2021 /PRNewswire/ -- Joy Spreader (HKG: 6988, "the Group") announced an additional investment of HK$2.898 million (approx.US$376,700) to buy back 1.178 million of its shares at a price of HK$2.46 per share (approx.US$0.32) on September 30.

Combined with the shares repurchased on the prior day, the company bought back 2.167 million shares in the aggregate for a combined consideration of HK$5.035 million (approx.US$654,500).

Analysts said that the ongoing share repurchase fully demonstrates the Group's confidence in its long-term growth while serving as a significant step in protecting the interests of its shareholders and in improving the return on investment.

As a result of the announcement concerning the share repurchase, the firm's stock price closed up over 12.84 per cent on September 30.

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SOURCE Joy Spreader Group Inc.

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