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| Thursday, 6 August 2015, 12:32 HKT/SGT | |
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| Focusing on Chinese High-quality Retailer, Optimistic about the Company's Future Development |
HONG KONG, Aug 6, 2015 - (ACN Newswire) - C.banner International Holdings Limited ("C.banner" or the "Company", together with its subsidiaries, the "Group", stock code: 1028), the second largest retailer of middle-to-high-end women's formal and leisure footwear in the PRC, has bought back its stock shares from market frequently in July, reflecting that the management has sufficient confidence in the Company's future and is devoted to maintain the interest for shareholders. It has learned that the famous American economist, Nobel Prize Winner for Economics, Dr. Myron Scholes bought Company stock recently, indicating his confidence in the value and future development of the Company. He also expressed his intention to increase shareholding of C.banner in the future.
Dr. Myron Scholes is a famous Canadian-American economist. He earned his Ph.D. at the University of Chicago and was a professor at MIT, University of Chicago and currently is an Emeritus Professor at Stanford University. As co-originator of the Black-Scholes options pricing model, he was awarded the Nobel Memorial Prize in Economic Sciences in 1997 with Prof. Robert C. Merton of Harvard University for their great contribution in developing the technology to value derivatives and hailed as the "Father of Current Derivatives Theory".
Dr. Myron Scholes conducts research on the implications of the shift in the Chinese economy from an infrastructure to more of a consumer basis for the growth of the economy. He visits China from time to time. He expressed confidence in the Company's financial condition and its future business prospects, which lead to his initial investment and his intended further open-market purchase of C.banner's shares.
Mr. Chen Yixi, Chairman of C.banner said, "The Company feels honored to attract attention and investment of a famous American economist. C.banner actively adjusts its strategies to meet changing conditions in a complicated and challenging economic environment. We expect a long-term investment interest from Dr. Myron Scholes. The Company will further enhance its strength and profitability to maximize the value for each investor."
Topic: Press release summary
Sectors: Daily Finance
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From the Asia Corporate News Network
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