Cloopen Plans $40M Share Buyback Plan

  • Cloud-based communications solution provider Cloopen Group Holding Ltd's RAAS board approved a share repurchase program of up to $40 million of its Class A ordinary shares in the form of ADSs during twelve months commencing on September 28.
  • The company plans to fund the repurchases from its existing cash balance.
  • Cloopen held $416 million in cash and equivalents as of June 30.
  • Price Action: RAAS shares traded higher by 2.34% at $4.38 in the premarket session on the last check Tuesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsPenny StocksBuybacksSmall CapTechBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!