Meitu's (HKG:1357) Founder, Chairman, and CEO Wu Zeyuan acquired an additional 1.6 million shares in the company on July 3, according to a same-day Hong Kong bourse filing.
Shares of the photo and social media app developer were up over 2% in Monday afternoon trading.
The shares were purchased from the market at an average of HK$4.023 apiece.
Following the acquisition, Wu's stake in the company increased to 594.8 million, or 12.97%, shares from 593.2 million, or 12.93%, shares previously.
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