BRIEF: Meituan repurchases 148 million shares since June

Online food delivery giant Meituan (3690.HK) announced Monday it repurchased 3.35 million shares on Sept. 16 at prices ranging from HK$122.90 to HK$126.40, spending a total of HK420 million ($53.8 million) on the purchases. Since passing its buyback authorization on June 14, the company has repurchased a total of 148 million shares, accounting for about 2.38% of its share capital.

Meituan’s shares rose more than 1.7% to HK$128.70 when trading began on Tuesday, more than double their 52-week low of HK$61.10 in February.

By A. Au