RemeGen (HKG:9995, SHA:688331) proposed to repurchase shares worth between 25 million yuan and 50 million yuan, according to a Monday disclosure on the Shanghai bourse.
Approximately between 167,800 shares and 335,600 shares will be bought for up to 149 yuan through centralized bidding within 12 months after approval by the board of directors.
The repurchased shares will be used for the company's employee stock ownership plan or equity incentive plan.
Hong Kong-listed shares of the pharmaceutical company were up 8% in Monday afternoon trading, while its Shanghai shares were up 6%.
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