Beijing-based SOHO China Ltd, one of China's largest real estate developers, said in a filing with the Hong Kong stock exchange Thursday that it plans to buy back up to $200 million worth of shares.
The company, which focuses on commercial properties, said it felt its shares were undervalued given its balance sheet. Specifically, the company has the lowest debt ratio among all of the country's developers.
Unlike residential developers in China, who have greatly suffered under the country's home restrictions, the company has maintained solid revenue growth in recent months.