Sino Biopharmaceutical Unveils HK$2 Billion Share Purchase Plan to Support Stock and Shareholders
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Sino Biopharmaceutical (HK:1177) announced a HK$2 billion share purchase plan over the next 12 months to support its stock price, citing market undervaluation. The company has already repurchased shares worth HK$338 million this year and maintains sufficient financial resources. Management views this as a demonstration of confidence in its business outlook and aims to boost investor confidence. Analysts currently rate the stock as a Buy with a HK$6.50 target.
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