Qifu Technology Launches $150M Share Repurchase Plan
Portfolio Pulse from Benzinga Newsdesk
Qifu Technology's board of directors has approved a $150 million share repurchase plan for its American depositary shares or Class A ordinary shares over the next 12 months starting from June 20, 2023.
June 20, 2023 | 9:15 am
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Qifu Technology's $150 million share repurchase plan may lead to a short-term increase in its stock price.
Share repurchase plans are generally seen as a positive signal for investors, as they indicate that the company believes its shares are undervalued. This can lead to increased demand for the stock and a short-term increase in its price.
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