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Nanjing Leads Biolabs Trustee to Buy Up to $50 Million in Shares Under Award Scheme; Shares Up 4%

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Nanjing Leads Biolabs (HKG:9887) said its trustee will acquire up to $50 million of the company's H-shares through on-market transactions under its H-share award scheme, according to a Wednesday Hong Kong bourse filing.

Shares of the biotech company were up nearly 4% in Thursday morning trade.

The purchased shares will be used for future share awards to eligible participants, subject to vesting conditions under the scheme.

Leads Biolabs said the share purchases are intended to enhance flexibility in compensation arrangements and help attract and retain talent.

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