111 Inc rises on $10 mln share buyback plan

111

07/09/2021 11:57

** U.S.-listed shares of China-based internet medical and
health co  YI.O  up 10.7% at $7.26 premarket 
    ** Co announces a $10 mln share buyback program under which
it may repurchase ADSs in next twelve months from its existing
cash balance  urn:newsml:reuters.com:*:nPnbLSkRxa
    ** Proposed buybacks may be made from time to time through
open market transactions at prevailing market prices, in
privately negotiated transactions, in block trades and/or
through other legally permissible means
    ** YI's board to review the share repurchase program
periodically, and may adjust terms and size or suspend or
discontinue the program
    ** YI has 82.68 mln shares outstanding for a market cap of
~$542.36 mln - Refinitiv data
    ** As of last close, stock had fallen 5.6% YTD

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))