WuXi AppTec Co., Ltd. Class H (HK:2359) has released an update.
WuXi AppTec Co., Ltd. has announced its third A Share repurchase plan for 2024, aiming to bolster shareholder value and investor confidence. The plan follows two previous buybacks totaling RMB 2 billion and will involve bidding on the Shanghai Stock Exchange, with the intent to cancel the repurchased shares and reduce the company’s registered capital. This strategic move comes after shares closed at less than half their peak price in the past year, highlighting the company’s commitment to aligning share prices with their intrinsic value.
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