Viomi Technology shares are trading higher after the company entered an agreement to divest businesses and assets involving certain 'IoT@Home' portfolio products for a total consideration of RMB65 million in cash.
Portfolio Pulse from Benzinga Newsdesk
Viomi Technology shares are trading higher after the company entered an agreement to divest businesses and assets involving certain 'IoT@Home' portfolio products for a total consideration of RMB65 million in cash.
July 19, 2024 | 8:08 pm
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Viomi Technology shares are trading higher following the announcement of an agreement to divest certain 'IoT@Home' portfolio products for RMB65 million in cash.
The divestment of 'IoT@Home' portfolio products for RMB65 million in cash is a significant move for Viomi Technology. This influx of cash can improve the company's liquidity and financial stability, which is likely why the stock is trading higher. Investors may view this as a positive step towards streamlining operations and focusing on core business areas.
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