Huadong Medicine (SHE:000963) agreed to repurchase and cancel restricted shares for 6.4 million yuan, according to a Shenzhen bourse filing on Saturday.
The Chinese drugmaker's shares rose 2% at the close of Monday's trade.
The company will buy back 284,200 shares for 22.85 yuan per share.
The restricted shares will be bought back after most of the shareholders have resigned from the company.
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