DouYu Plans Repurchase of Up To $20M Of Ordinary Shares In The Form Of ADSs During Period Of Up To Twelve Months Commencing On January 1, 2024
Portfolio Pulse from Benzinga Newsdesk
DouYu International Holdings Limited has announced a plan to repurchase up to $20 million of its ordinary shares in the form of American Depositary Shares (ADSs) over a period of up to twelve months, starting from January 1, 2024.
December 28, 2023 | 11:33 am
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DouYu's share repurchase program of up to $20 million in ADSs may indicate management's confidence in the company's value, potentially leading to a positive short-term impact on the stock price.
Share repurchase programs are often viewed positively by the market as they can reduce the number of shares outstanding, potentially increasing earnings per share and the intrinsic value of the remaining shares. Additionally, such programs can signal that management believes the shares are undervalued, which can lead to increased investor confidence and a short-term rise in the stock price.
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