(Yicai Global) June 25 -- Xiaomi repurchased 2.5 million shares worth HKD25 million (USD3.2 million) through the Hong Kong Stock Exchange yesterday, marking the Beijing-based phonemaker's 12th buyback this month, it said in a statement.

The firm has bought back nearly 85.4 million shares so far this year, or 0.36 percent of its total capital, in order to stimulate its share price.

Its stock [HKG:1810] closed up 1.8 percent at HKD9.95 (USD1.27) yesterday but had fallen to HKD9.83 as of 9.50 a.m. -- still well below its HKD17 initial offering price last July.

Editor: James Boynton