HBM Holdings (HKG:2142) repurchased HK$10 million worth of shares on Feb. 7, the most for biotech firms on the Hong Kong Stock Exchange, according to a Monday filing with the bourse.
The buyback is a part of a HK$40 million buyback plan to enhance shareholder value.
CEO and chairman of the board Jingsong Wang increased his stake in the company and did not rule out further stake increase.
With cash reserves of HK$1.43 billion, the company is strengthening its business by partnering with companies like Windward Bio and Kodiak Sciences. These collaborations aim to advance research and develop innovative treatments in key areas such as immunology and ophthalmology.
The company's shares were up by 15% in recent trading.
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