WuXi AppTec's (HKG:2359) board agreed to implement a plan for the repurchase of up to 1 billion yuan of A shares in 2025, a Monday filing with the Hong Kong bourse said.
The buyback, which is subject to shareholder approval, will take place over 12 months through bidding on the Shanghai Stock Exchange.
The expected number of A shares to be bought back under the program is 10,863,661, representing roughly 0.38% of the firm's issued share capital.
The repurchased shares will be cancelled and the biotechnology company's registered capital reduced.
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