Shanghai Fosun Pharmaceutical (HKG:2196, SHA:600196) plans to repurchase shares in Shanghai and Hong Kong, according to a Wednesday filing with the Hong Kong Exchange.
The drug company aims to buy back up to 27,597,025 shares in Hong Kong, the filing said.
Fosun Pharma plans to buy between 300 million yuan and 600 million yuan of shares in Shanghai. Proceeds from the Shanghai share buybacks will be used to issue shares for convertible bond conversion, and for employee incentive plans, the filing said.
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