China's Anta Sports announces up to $1.3 billion share buyback
The share repurchase will take place in the next 18 months, the firm, which owns Wilson tennis racket maker Amer Sports , said. The company's current stock price is below its actual value and the implementation of the buyback plan aims to promote the interests of shareholders, Anta said in a filing to the Hong Kong exchange. Anta shares rose as much as 1.2% to HK$72.3 during the day, and closed 0.3% higher.