Movement Alert|Akeso Bio Rises 3.13% in Regular Trading, Board Approves HK$200 Million Buyback Plan and Management Pledges HK$50 Million in Open-Market Purchases

Market Focus06-12

On June 12, Akeso Bio rose 3.13% in regular trading, trading at HK$89.35/share, with turnover of HK$356 million. The rebound follows a significant corporate action announced the prior day.

On June 11, Akeso Bio disclosed that its board approved a plan to deploy up to HK$200 million to purchase company shares on the open market, executed through the trustee of its 2021 restricted share unit scheme and funded by existing cash resources. Concurrently, Chairwoman and CEO Dr. Xia Yu, along with executive directors Dr. Li Baiyong, Dr. Wang Zhongmin, Dr. Zhang Peng, and CFO Dr. Wang Bingzhong, announced intentions to collectively acquire up to HK$50 million in shares using personal funds. The board stated that the current trading price does not reflect the company's intrinsic value and business prospects.

The stock had declined over 30% from its June 1 post-ASCO high, approaching 52-week lows, before the buyback announcement provided a near-term floor.

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