CSPC Pharmaceutical Group (HK:1093) has released an update.
CSPC Pharmaceutical Group Limited has announced a voluntary share buy-back plan of up to HK$5 billion to be executed over the next 24 months, subject to market conditions. This move follows a previous buy-back of HK$387 million worth of shares in the first half of 2024 and demonstrates the company’s confidence in its business prospects and commitment to enhancing shareholder value. The buy-backs, which will be funded from existing cash reserves, are in line with the company’s belief that its current share price is undervalued.
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