Shandong Buchang Pharmaceuticals (SHA:603858) plans to repurchase shares worth between 75 million yuan and 150 million yuan, according to a Shanghai bourse filing on Tuesday.
The share buyback will be implemented within 12 months after the approval of the board of directors.
Each share will be priced up to 21 yuan.
The repurchased shares will be used for the company's employee stock ownership plan, equity incentives, and convertible bond conversion.
China's drug regulator accepted Changchun High-Tech Industry (SHE:000661) subsidiary Changchun Jinsai Pharmaceutical's clinical trial application for its GenSci144 tablets for chronic kidney disease, according to a Tuesday filing with the Shenzhen bourse.
Divgi TorqTransfer Systems (NSE:DIVGIITTS, BOM:543812) said its board has approved the incorporation of a wholly-owned subsidiary in the United States, according to an Indian bourse filing on Monday.Shares of the company jumped over 7% in Tuesday's trade.The company will invest up to 30 million Indian rupees in one or more tranches through equity or other share instruments to support the subsidiary's capital requirements and working capital needs, the filing said.The U.S.-based unit will undertake business development, marketing, promotion, sales, and distribution activities, according to the company filing.
Zhejiang Meorient Commerce Exhibition (SHE:300795) plans to subscribe for shares in a startup artificial intelligence company for 150 million yuan, according to a Shenzhen bourse filing on Monday.The convention and exhibition services provider's shares dipped 20% at the close of Tuesday's trade.Meorient will acquire a stake in Shanghai Jieyue Xingchen Intelligent Technology, which is also named StepFun.StepFun produces and develops AI-driven model processing tools, language, images and videos.