Article: China : China B-shares close higher on Livzon Pharma share buyback.

Byline: sandesh03

China B-shares closed broadly higher after Livzon Pharmaceutical Group's share buyback announcement, dealers said. The news fueled expectations that more companies will go the buyback route, helping B-share prices catch up with those of their A-share counterparts.

Livzon Pharmaceutical (SZB 200513; SZA 000513) rose by the 10 pct daily limit to 12.99 hkd after it said it would buy back up to 160 mln hkd B-shares, or 8.18 pct of its B-shares outstanding, at a maximum 16 hkd per share.

The Shanghai B-share Index was up 4.72 points or 1.94 pct at 247.20 and the Shenzhen B-share Index rose 11.07 points or 2.04 pct to 554.92.

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