Newlink Technology (HKG:9600) Chairman and Chief Executive Officer Zhai Shuchun, one of the firm's controlling shareholders, plans to acquire around 326.5 million company shares in the secondary market within the next 12 months.
The combined shareholding of Zhai and the parties acting in concert with him currently stands at 34.59%.
Following the proposed share purchase, the aggregate ownership of the controlling shareholders will not increase by more than 2%, according to a Tuesday filing with the Hong Kong Exchange.
The company's shares were up over 15% in recent trade.
Price (HKD): $2.36, Change: $+0.32, Percent Change: +15.69%
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