HK Stock Market Move | BRII-B(02137) rose more than 31% in the afternoon, with the stock price rising nearly 90% in the month. Prior to this, the company announced a HK$60 million buyback plan.

BRII-B (02137) rose more than 31% in the afternoon, with a cumulative increase in stock price of nearly 90% this month. As of the time of writing, the stock rose by 31.01% to HK$2.07, with a turnover of HK$46.17 million. On the news front, TengShengBoYao previously announced that considering the current undervalued level of the company's stock price in terms of performance, asset value, and business prospects, the board of directors has decided to use the repurchase authorization on December 20, 2024, actively implement an on-market share repurchase plan according to market conditions. Under the plan, TengShengBoYao will use up to HK$60 million to repurchase shares, with the repurchase period starting from December 20, 2024, to the date of the company's next annual general meeting in 2025. In addition, TengShengBoYao previously announced that the company has re-signed an agreement with VBI Vaccines, Inc. and its subsidiaries ("VBI") and its creditors K2 VBI Equity Trust, LLC and K2 HealthVentures LLC, to acquire the intellectual property (IP) and other assets related to BRII-179. Under the agreement, the company will fully acquire the patents, technical know-how, and related materials of BRII-179, eliminating all future milestone payments and royalty fees to be paid to VBI. The total consideration to be paid by TengShengBoYao is $18 million.