Perennial International's (HKG:0725) Hong Kong subsidiary purchased 50,000 Alibaba Group's (HKG:9988) shares on the market on Jan. 23, for a little over HK$4.1 million, a Thursday Hong Kong bourse filing said.
The purchased shares represent 0.00026% of the issued shares of Alibaba.
The purchase was funded by the existing financial resources of the group.
Shares of the electric cable and wire products manufacturer were up over 11% on Monday's close.
Price (HKD): $0.60, Change: $+0.060, Percent Change: +11.11%
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