Shanghai Fosun Pharmaceutical (HKG:2196, SHA:600196) plans to repurchase its H-shares worth up to HK$1 billion, according to a press release on Sunday.
The repurchased shares will either be cancelled or held as treasury shares.
The buyback will be mainly funded by proceeds from the $294 million sale of a roughly 6% stake in India's Gland Pharma (NSE:GLAND, BOM:543245). Fosun Pharma retained a 45.8% stake in Gland Pharma following the divestment.
(Updates to add a statement from Citi)Citigroup expects regulatory approval from Beijing for its wholly owned brokerage operations in China as soon as within September, Reuters reported Friday, citing two people with knowledge of the matter.The approval could come around the time of Chinese President Xi Jinping's upcoming meeting with U.S. President Donald Trump in Washington, according to the report.Citi declined comment when reached by.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Newton Resources (HKG:1231) unit Ace Profit Investment entered into a public cloud services agreement with a third-party provider, according to a Friday bourse filing.Under the contract, the company will obtain access to high-performance Graphics Processing Unit (GPU)-enabled public cloud computing capacity for 36 months.This will support the company's development and provision of cloud computing, AI, and related technical services.
Capital Industrial Financial Services Group (HKG:0730) associate Beijing West Business Factoring granted Shouyi Medical Health Investment Management a credit facility of up to 200 million yuan.Leveraging the facility, the parties expect a rise in demand for growth in the factoring business, according to a Friday bourse filing.The parties first entered into the strategic cooperation agreement in April, the collateral financing company said.