Zhihu Announced Results Of Tender Offers To Buy Back 33,016,016 Class A Shares For HK$300,775,906; Total Outstanding Shares Now 261.86M
Portfolio Pulse from Benzinga Newsdesk
Zhihu Inc. announced the results of its tender offers to buy back 33,016,016 Class A shares for HK$300,775,906. The total outstanding shares are now 261.86 million. The buyback includes shares in the form of ADSs and is expected to be completed by November 8, 2024.
October 30, 2024 | 12:43 pm
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Zhihu Inc. completed a tender offer to buy back 33,016,016 Class A shares, reducing the total outstanding shares to 261.86 million. This buyback could positively impact the stock price by increasing earnings per share and signaling confidence in the company's value.
The buyback reduces the number of shares outstanding, which can increase the earnings per share and potentially boost the stock price. It also signals management's confidence in the company's value, which is generally viewed positively by investors.
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