Qudian Board Approved a Share Buyback Program of up to $300M Ordinary Shares or ADSs in the Next 36 Months Starting from June 13, 2024, in Addition to the Existing Program
Portfolio Pulse from Benzinga Newsdesk
Qudian's Board has approved a new share buyback program to purchase up to US$300 million worth of Class A ordinary shares or ADSs over 36 months starting June 13, 2024. This is in addition to the existing program initiated in June 2022, under which the company has already purchased 56.7 million ADSs for approximately US$94.2 million. The existing program is set to conclude on June 12, 2024.
March 18, 2024 | 9:04 am
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Qudian has announced a new share buyback program of up to US$300 million starting June 13, 2024, in addition to completing its current buyback program.
Share buyback programs are generally viewed positively by the market as they can indicate the company's confidence in its own future prospects. By announcing a new buyback program, Qudian signals its financial health and commitment to returning value to shareholders. This could lead to a positive short-term impact on QD's stock price, especially considering the scale of the buyback program.
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