Viomi Technology Shares Rise 15% on News of Share Buyback

By Chris Wack

 

Viomi Technology Co. Ltd. shares were up 15% to $4.79 after the company said its board of directors approved a new share repurchase program.

The company said it is allowed to buy back up to $10 million of its class A ordinary shares in the form of American depositary shares over the next 12 calendar months.

The company expects to fund the repurchase out of its existing cash balance.

Viomi stock hit its 52-week low of $4.01 on Oct. 6.

 

Write to Chris Wack at [email protected]