Sino Biopharmaceutical (HKG:1177) subsidiary Chia Tai Tianqing Pharmaceutical bought 187,385,000 shares under a share award scheme, according to a Friday filing with the Hong Kong Stock Exchange.

Chia Tai Tianqing bought the shares from May 7 to Sept. 30 for HK$550.6 million.

The remaining share purchase amount is about 500 million yuan, the filing said.

Shares closed 8% higher during Friday's afternoon trading.

Price (HKD): $4.15, Change: $+0.29, Percent Change: +7.51%