Teyi Pharmaceutical to Buy Back Up to 120 Million Yuan Shares; Shares Up 3%

MT Newswires Live06-12

Teyi Pharmaceutical Group (SHE:002728) plans to repurchase shares worth between 70 million yuan and 120 million yuan, the company said in a Wednesday disclosure on the Shenzhen Stock Exchange.

The Chinese pharmaceutical company will buy back between 5.4 million and 9.3 million shares for up to 12.96 yuan apiece, with the shares accounting for up to 1.81% of the company's total issued shares.

The buyback will be implemented 12 months after the company's board of directors approves the plan, the Wednesday disclosure added.

Shares of the company rose more than 3% in recent trade.

Price (RMB): Â¥8.42, Change: Â¥+0.27, Percent Change: +3.31%

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