х
companies are prohibited by law from buying their own shares although I understand that these restrictions will
be relaxed once certain safeguards have been formulated
and legislation introduced. I am advised that the Stock Exchange will be amending their listing rules in line with the new buy-back provisions as and when these are finalised and thus the relaxation and safeguards will be
applied to both locally and overseas registered
companies.
As you can imagine this has been a difficult time
for market regulators and nstitutions to know exactly
what to do and where they stand. Indeed I believe that the portfolio management arm of Jardine Matheson Group which manages a portfolio for the Kuwait Investment Authority was buying and selling stocks in Hong Kong for
the portfolio in the week beginning 6 August.
DOUGLAS HURD