Shanghai Fosun Pharmaceutical (HKG:2196) approved of repurchase and cancellation of over 1 million restricted shares for a total amount of around 22.8 million yuan, a Wednesday filing with the Hong Kong Exchange said.
The company will fund the repurchase with its own internal funds and upon the completion of the repurchase and cancellation of 1,072,246 restricted shares, the company's total issued share capital will be reduced to 2,671,326,465 shares and its registered capital will be reduced by 1.1 million yuan.
The company's shares were up nearly 3% on Wednesday's close.
Price (HKD): $13.34, Change: $+0.34, Percent Change: +2.62%
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