HK Stock Market Move | LAEKNA-B (02105) surged more than 7%, planning to repurchase shares and increase holdings by senior executives, involving a maximum of HK$56 million.

LAEKNA-B(02105) rose more than 7%, as of the time of writing, it increased by 7.74% to 7.24 Hong Kong dollars, with a turnover of 34.6211 million Hong Kong dollars. On the news front, Lai Kai Pharmaceutical announced this morning that the board has approved the repurchase of company shares in the open market. At the same time, the board has learned that Chairman Lu Xiangyang, along with several senior management members, intends to increase their shareholding in the company by purchasing company shares in the open market. The total amount for the company's share repurchase and senior management's shareholding increase plan is up to 56 million Hong Kong dollars. The share repurchase plan will be funded by the company's existing available cash resources. The shares repurchased by the company will be cancelled. As for the senior management's shareholding increase plan, it will be funded by their personal financial resources. The simultaneous actions reflect the board and management's confidence in the company's business prospects and future development, which will benefit the company and create value for shareholders.