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FOSUN PHARMA (02196.HK) Opens 2.78% Higher After Proposing Up to HKD1B H Share Buyback
2026-09-07 09:33:20 FOSUN PHARMA (02196.HK) opened 2.78% higher this morning (7th) at HKD16.65, with 49,000 shares traded in pre-market negotiated transactions before the market opened, involving HKD815,800. FOSUN PHARMA announced its H share repurchase plan last Sunday (6th), proposing to repurchase H shares with a total amount of not more than HKD1 billion. The repurchased shares will either be cancelled or held as treasury shares. The company said the buyback plan responds to market concerns with concrete action and demonstrates management's strong confidence in the company's intrinsic value. The plan has taken effect and implementation will be advanced as soon as possible starting immediately. The company added that the plan represents the continued use of its long-term value management tools, and it will dynamically assess market conditions and implement the program on a rolling basis to establish a normalized shareholder return mechanism. The repurchase funds will mainly come from proceeds generated by the disposal of about a 6% stake in Gland Pharma, with total transaction consideration of about USD294 million. Upon completion of the transaction, FOSUN PHARMA will remain the controlling shareholder of Gland Pharma with a stake of about 45.76%, and Gland Pharma will continue to be consolidated into FOSUN PHARMA's financial statements as a subsidiary. The returned capital from the transaction will mainly be used for the group's research and development investment, share repurchases and repayment of interest-bearing debt. As the largest shareholder, FOSUN PHARMA said it remains fully confident in Gland Pharma's long-term development, which will continue to serve as an overseas value-driving engine. The company said that looking ahead, FOSUN PHARMA will continue to focus on innovation and globalization, accelerating the research, development and commercialization of key products. The buyback aims to firmly convey confidence in value and create sustainable returns for shareholders. (da/a)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |