Sichuan Kelun-Biotech Biopharmaceutical's (HKG:6990) board approved the proposed full circulation of up to nearly 3.6 million domestic shares and over 4.6 million unlisted foreign shares, a Friday Hong Kong bourse filing said.

Shares of the drug company were up 2% in Monday afternoon trading.

The firm, on the same day, submitted the relevant filing application to the China Securities Regulatory Commission.

The company said it will make further announcements as and when needed.