SINA Corp (NASDAQ:SINA) has agreed to buy $456 million in shares after the Chinese company experienced the biggest rise in 11 years.

In the last three months, the company’s trading capacity of 13 million shares surged beyond eight times their normal range. So far, the shares have gone up by 23% to settle at $50.21 per share. The share bump was fueled by a statement from the company’s CEO and Chairman Charles Chao that he had contracted to purchase 11 million shares that will be priced $41.49 per share. Before the positive share movement on Monday, the company’s blogging service that operates almost like Twitter had experienced an 8.9% decline from an annual high.

According to an analyst, by the name Tian X. Hou from T.H. Capital LLC, SINA has higher chances of better performance in the future based on the decision by the management to purchase more shares. From a deeper point of view, it is clear that the management is indulging in the stock purchase because they have confidence that the firm will perform better in the coming future.

SINA operates different businesses and has better chances of gaining more value if it diversifies the listings of the various business operations. Listing them separately will reduce the risks as well as the influence of each division on the other. Making them stand alone will also be easier for taxing purposes. Stock prices stand to receive more gains.

According to SINA Corp (NASDAQ:SINA), Chao has consented to a lockup limit that will be in place for a duration of 6 months. The firm did not disclose how the raised capital gains from the sale of the shares will be used. SINA’s microblogging division made its debut in the United States in April 2014. The division by the name Weibo Corp. went up 6.5% in share value to $16.68.

Weibo’s market capitalization is 3.4 billion compared to $2.9 billion for SINA. The company has been having phenomenal success and plans to buy more shares to boost its future performance.