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.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100