Country Garden Services Holdings (HKG:6098) plans to buy back up to 334.3 million shares, representing about 10% of its total issued shares, in the secondary market.

The repurchased shares will either be canceled or kept in treasury for the group's share award scheme, according to a Monday filing with the Hong Kong Exchange.

In a separate Monday disclosure, the property manager said it adopted a new share award scheme to incentivize core talents and reward selected participants for their contributions to the company.

The maximum number of shares for awarding will not exceed 109 million.

The stock closed 6% higher on Tuesday.