BYD Electronic (International) (HKG:0285) said it bought over 7 million shares from the open market and simultaneously granted the stocks to employees, according to a Hong Kong bourse filing Wednesday.

Shares of the mobile handset components maker jumped nearly 6% in late-morning trade Thursday.

The shares were purchased at an average price of HK$32.06 each for a total consideration of HK$227.5 million.

The stock grant are subject to a vesting period.