RYB Education Stock Bobs Up Over 9% After Yesterday's Flop
Xu Wei
DATE:  Nov 28 2017
/ SOURCE:  Yicai
RYB Education Stock Bobs Up Over 9% After Yesterday's Flop RYB Education Stock Bobs Up Over 9% After Yesterday's Flop

(Yicai Global) Nov. 28 -- Shares of RYB Education, Inc. [NYSE: RYB] (RYB) rebounded to 15 percent in premarket trading, opening at USD17.79 with an 8.15 percent increase, following another spike on Nov. 24.

RYB stock rose 9.42 percent to close at USD18 per share, with a volume traded eightfold the average amount over the past 30 days.

Allegations of child abuse at a Beijing nursery school it runs depressed its stock price 38.41 percent to close at USD16.45 per share on Nov. 24.

Before the market opened last Friday, RYB outed a plan to repurchase USD50 million in common stock in the next 12 months, a buyback it will fund with its own capital. Based on the close price at USD16.45  last Friday, USD50 million may claw back 3.039 million shares, but RYB had only issued 7.8 million shares as of late September, meaning the company is set to retract nearly half of its outstanding shares.

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Keywords:   RYB Education Institution,Share Price,Child Abuse,Kindergarten,Daycare