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BUZZ-HK-listed Sihuan Pharmaceutical rises on share buyback

05/09/2021 22:20
BUZZ-HK-listed Sihuan Pharmaceutical rises on share buyback

** Shares of Sihuan Pharmaceutical Holdings Group Ltd 0460.HK rise as much as 7.1% to HK$2.87, on course to snap three consecutive sessions of losses

** Stock on track for best day since April 26

** The Beijing-based co said it had on May 7 repurchased 10 mln shares, or 0.1056% of the issued share capital, at an average price of HK$2.67 each in the open market for a total HK$26.67 mln ($3.43 mln) nFWN2MU0OC

** Says the share repurchase reflects the co's confidence in its long-term business prospects and it may make further share repurchase depending on market conditions

** Hong Kong's healthcare index .HSCIH rises 2.9%

** Both the Hang Seng China enterprises index .HSCE and the benchmark index .HSI climb 0.5%

** As of last close, stock up 226.8% this year


($1 = 7.7658 Hong Kong dollars)


(Reuters Messaging: [email protected])