X Financial Commences a Tender Offer To Buyback ~$9.04M Of Its ADSs
Portfolio Pulse from Benzinga Newsdesk
X Financial (NYSE: XYF) has initiated a tender offer to buy back up to 2 million of its American Depositary Shares (ADSs) at $4.52 per ADS. This move is part of a previously approved $20 million share repurchase program. The tender offer will expire on July 12, 2024.
June 05, 2024 | 1:14 pm
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X Financial has commenced a tender offer to repurchase up to 2 million ADSs at $4.52 per ADS, as part of a $20 million share repurchase program. The offer will expire on July 12, 2024.
The tender offer to repurchase shares is likely to have a positive short-term impact on the stock price as it indicates the company's confidence in its own value and can reduce the number of shares outstanding, potentially increasing earnings per share.
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IMPORTANCE 80
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