Ascletis Pharma touches near 4-week high on share buyback plan
30/06/2026 03:36
BUZZ-Ascletis Pharma touches near 4-week high on share buyback plan ** Shares of Ascletis Pharma Inc 1672.HK climb 2.7% in the second gaining session to HK$10.68, their highest level since June 5
** Pharmaceutical products developer says the board has decided to repurchase shares in the open market for up to HK$300 mln ($38.25 million), which is to be funded by internal financial resources
** Says the current trading price of the shares does not reflect their intrinsic value and the share repurchase can enchance shares value improvign the return to shareholders
** YTD, stock down 7.8%, Hang Seng Biotech Index .HSBIO down 10%
($1 = 7.8429 Hong Kong dollars)
(Reporting by Donny Kwok)
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