HK-listed Lee's Pharmaceutical hits near 5-week high on buyback plan

Lees Pharmaceutical Holdings

03/09/2019 08:19

** Shares of Lee's Pharmaceutical Holdings Ltd  0950.HK 
surge as much as 14.9% to HK$4.47, their highest since Aug. 2 
    ** Ranks 8th biggest percentage gainer in late trade, and on
track to extend a 3-day rally
    ** Hong Kong-based company says to buy back up to HK$120
million ($15.30 million) worth of shares  urn:newsml:reuters.com:*:nFWN25T0B8
    ** Says program reflects confidence in current business and
plans to finance the repurchase with own resources  
    ** As of Monday's close, the stock down 29.3% this year
    ** Lee's Pharmaceutical has underperformed the Hang Seng
Commerce & Industry Index sector  .HSNC  by 6.5 percentage
points in the past one month
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
eases 0.4%
    ** The Hang Seng China enterprises index  .HSCE  falls 0.7%,
and the benchmark index  .HSI  edges down 0.3%


($1 = 7.8430 Hong Kong dollars)

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)