Lee's Pharmaceutical Launches HK$50 Million Share Buyback; Shares Jump 8%
Lee's Pharmaceutical (HKG:0950) said it was launching an up to HK$50 million share buy back, according to a Tuesday filing with the Hong Kong bourse.The company said its current share price does not reflect its intrinsic value, representing a good opportunity to conduct the buyback.Shares of the company jumped nearly 8% in late morning trade Wednesday.