Xunlei Announces $20M Share Repurchase Program Of Its ADSs Or Common Shares Over The Next 12 Months
Portfolio Pulse from Benzinga Newsdesk
Xunlei Limited (NASDAQ:XNET) has announced a new $20 million share repurchase program for its ADSs or common shares over the next 12 months. The Board will periodically review and adjust the program as necessary.
June 04, 2024 | 12:02 pm
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Xunlei Limited has announced a $20 million share repurchase program, which could positively impact its stock price by reducing the number of shares outstanding and signaling confidence from the management.
Share repurchase programs typically reduce the number of shares outstanding, which can increase earnings per share and often lead to a higher stock price. Additionally, it signals that the management believes the stock is undervalued.
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