So-Young International Says During Share Repurchase Program Announced In November 2022, Modified In January 2023 And Share Repurchase Program Announced In May 2021, It Purchased ~13.3M ADSs, Representing 10.3M Class A Ordinary Shares For ~$54.5M
Portfolio Pulse from Benzinga Newsdesk
So-Young International announced that it has purchased approximately 13.3 million ADSs, representing 10.3 million Class A ordinary shares, for about $54.5 million during its share repurchase program initiated in November 2022 and modified in January 2023, as well as the program announced in May 2021.
January 08, 2024 | 11:19 am
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So-Young International has repurchased 13.3 million ADSs for approximately $54.5 million as part of its share repurchase programs, signaling confidence in the company's value.
Share repurchase programs often indicate that a company believes its stock is undervalued and is a sign of confidence to investors. The repurchase of a significant number of shares by So-Young International could lead to a positive short-term impact on the stock price as it may reduce the number of shares outstanding and potentially increase earnings per share. Additionally, the action can be perceived as a signal of strong financial health and a commitment to returning value to shareholders.
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