FAST NEWS: Hutchmed Receives Additional Holdings from U.S. Fund

The latest: The Capital Group Companies, Inc., a U.S.-based fund disclosed it purchased 1.285 million shares in Hutchmed (China) Ltd. (HCM.US; 0013.HK) for HK$22.14 million ($2.84 million), raising its stake from 8.93% to 9.08%, according to a Hong Kong Stock Exchange filing. Looking up: Although Hutchmed’s U.S.-listed shares are at risk of delisting, its Hong Kong shares are still being purchased by a U.S.-based fund, reflecting this shareholder’s confidence in the company’s prospects. Take Note: The average price per share for The Capital Group’s increased stake in Hutchmed is HK$17.236.…

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Qudian Finds New Business Model in Buying Back Shares

Online lender announces plan to buy back up to $200 million worth of its shares, sending its stock up by as much as 60% Key Takeaways: Qudian has announced a $200 million share buyback plan, extending a recent series of buying of its own stock Aggressive share purchasing comes as Qudian dramatically scales back its original consumer lending business and searches for a new business model By Doug Young It seems that Qudian Inc. (QD.US), the former fintech pioneer that is now considering dumping its original consumer lending business, has…

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