Kanzhun Ltd Board Approved a Share Buyback of up to $200M
Portfolio Pulse from Benzinga Newsdesk
Kanzhun Ltd's board of directors has authorized a new share repurchase program, allowing the company to buy back up to $200 million of its shares, including ADSs, starting from March 20, 2024, for a 12-month period.

March 12, 2024 | 10:34 am
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Kanzhun Ltd has initiated a share repurchase program to buy back up to $200 million of its shares, including ADSs, effective from March 20, 2024, for a 12-month period.
Share buyback programs are typically viewed positively by the market as they can increase shareholder value by reducing the number of shares outstanding, potentially leading to a higher earnings per share (EPS) and stock price. Given the substantial amount of $200 million allocated for the buyback, this could signal the company's confidence in its financial health and future prospects. Investors might see this as a bullish sign, potentially leading to a short-term increase in the stock price.
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IMPORTANCE 90
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