Caixin OnlineFinance & EconomicsTop Stories Finance 22 U.S.-listed Companies Announce Buyback Plans This Year
08.29.2012 17:00

22 U.S.-listed Companies Announce Buyback Plans This Year

Firms complain they are undervalued in United States amid repeated attacks by short sellers
By staff reporter Fu Yanyan

(Beijing) – Twenty-two U.S.-listed Chinese firms have announced plans to buy back shares worth a total of US$ 875 million this year, a report by investment consultancy ChinaVenture Group says.

Many Chinese companies said they were undervalued in the U.S. market in wake of a series of short seller attacks that allege financial fraud, the report said.

The August 28 report also cites the continually weakening global economic environment as a primary factor that contributes to the low price-earnings ratios of Chinese firms.

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