(Reuters) - Chinese property developer Evergrande Real Estate is considering buying back shares, a source mentioned CEO Xia Haijun as telling investors on Friday, after the company's shares were beaten down on a report from a short-seller.
Xia and chief financial officer Parry Tse told participants in an investor call that the company is looking at a share buyback, according to a participant in the call, organised by Credit Suisse. The company did not say when it would buy back shares or how much it would spend, the source said.
Evergrande's shares erased their losses after slipping as much as 5.5 percent on Friday morning, ahead of an announcement shortly before noon in Hong Kong aimed at refuting claims by Citron Research. They were trading up 1.5 percent prior to the lunch break. (Reporting by Alex Frew McMillan; Editing by Muralikumar Anantharaman)
Source: http://in.reuters.com/article/2012/06/22/china-evergrande-buyback-idINL3E8HM1MR20120622
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