CDC Corp. rises on share buybacks

CDC Corp. (Nasdaq: CHINA) shares are climbing after the gaming and software company announced its executives and directors repurchased 467,825 of its shares during the last nine trading days.

Since Jan. 1, the Beijing-based firm has repurchased 2.9 million shares at an average price of $8.02 a piece, or $51.2 million in total.

CDC purchased the shares under an SEC-approved plan, in which a company can repurchase shares during trading blackout periods through arrangements with a broker.

CDC makes supply chain management software and also owns a majority share in the online entertainment website China.com.

In morning trading, CHINA shares are soaring 17.76%, or $0.73, at $4.84. Over the last 52 weeks, shares have ranged from $3.69 to $11.45.

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