Newborn Town's (HKG:9911) trustee, Three D Partners, bought back over 2.1 million shares for HK$20 million under a restricted share unit award scheme, a Wednesday Hong Kong bourse filing said.

Shares of the internet marketing company were up over nearly 3% in Thursday afternoon trading.

The shares were repurchased from the market between Nov. 27 and Dec. 3 for HK$9.31 apiece.

Following the buyback, the trustee holds nearly 88.2 million shares in the firm.