Fosun International (0656) to repurchase H shares of the company, with the proposed total amount of funds for repurchasing H Shares of up to HK$1 billion.
The use of such repurchased H shares will be decided by the company in accordance with the H Share Repurchase Mandate, and factors such as market conditions, including but not limited to cancellation of the H Shares so repurchased, or holding the same as treasury shares.
The board of directors stated that it highly confident in the company's business development and outlook, and considers that the current price of the H Share is below its actual value, thus the decision of the share repurchase plan.
Meanwhile, on Friday, Fosun Pharma Singapore, an indirect subsidiary of the company, disposed of an aggregate of 9,897,000 shares of Gland Pharma, totaling a transaction value of 28 billion Indian rupees (HK$2.32 billion) before deducting transaction commissions and taxes.
