FinVolution Group Announces Third Share Repurchase Program of up to $150M
Portfolio Pulse from Benzinga Newsdesk
FinVolution Group (NYSE:FINV), a leading fintech platform, has announced a new share repurchase program authorized by its board of directors. The program, effective from August 29, 2023, allows the company to repurchase its own Class A ordinary shares in the form of American depositary shares (ADS) with an aggregate value of up to $150 million until August 29, 2025.
August 29, 2023 | 7:42 am
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POSITIVE IMPACT
FinVolution's new share repurchase program could potentially increase the stock's value by reducing the number of shares in circulation.
Share repurchase programs are often seen as a sign of a company's confidence in its own stock, and can lead to an increase in the stock's price as the number of shares in circulation is reduced. Therefore, this news could potentially have a positive impact on FinVolution's stock price.
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