By Colin Kellaher
Shares of RLX Know-how Inc. rose almost 15% Wednesday after the maker of e-vapor merchandise mentioned its board approved the repurchase of as much as $500 million in inventory.
The Beijing firm, which at present has about 727.7 million shares excellent, sports activities a market capitalization topping $6 billion.
RLX mentioned the buyback authorization extends till the tip of 2023, including that it’ll fund repurchases with money available.
RLX shares had been not too long ago altering fingers at $4.47, up 14.3%. The inventory is down roughly 87% from a 52-week excessive of $35 in January and touched a 52-week low of $3.30 Monday.
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