WuXi AppTec Plans 1 Billion Yuan Share Buyback in Shanghai
WuXi AppTec (HKG:2359, SHA:603259) plans to repurchase up to 1 billion yuan worth of shares through bidding on the Shanghai Stock Exchange.
The shares repurchased will be canceled, reducing the company's registered capital, according to a Tuesday filing with the Hong Kong bourse.
The buyback period is up to three months, and the maximum purchase price is capped at 61.02 yuan per share. The company will utilize internal funds for the repurchase.
Hong Kong-listed shares of the biotech firm closed almost 7% higher on Wednesday.
Price (HKD): $34.35, Change: $+2.2, Percent Change: +6.68%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.