PW Medtech Group (HKG:1358) said it will begin repurchasing shares on the open market over the next 12 months under its existing shareholder mandate, according to a Friday Hong Kong bourse filing.

Shares of the company were up about 4% in Monday morning trade.

The repurchase plan, capped at 148,673,509 shares or 10% of issued share capital, will be carried out at the board's discretion based on market conditions and will be financed using existing cash reserves.

Any repurchases after the 2026 annual general meeting will be subject to fresh shareholder approval, the filing said.