BRIEF: Chairman boosts his stake in Wanguo Gold

Gold miner Wanguo Gold Group Ltd. (3939.HK) said on Friday that major shareholder and Chairman Gao Mingqing acquired 1.7 million and 330,000 company shares on April 1 and April 2, respectively, at average prices of HK$14.245 and HK$13.6591. Altogether, Gao purchased 2.03 million shares for about HK$28.72 million ($3.68 million).

Following the transactions, Victor Soar Investments Ltd., an entity owned by Gao which made the purchases on his behalf, holds 1.134 billion shares in the company, representing approximately 25.62% of its total issued share capital. The company said that Gao’s purchase reflects his belief in the company’s prospects and growth potential, demonstrating his long-term commitment.

Shares of Wanguo opened down 2.2% at HK$13.60 on Monday. The stock is down 27% from its 52-week high.

By Lau Chi Hang

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