- Chinese online discount retailer Vipshop Holdings Limited VIPS board of directors has authorized a new share repurchase program of up to $500 million of its American depositary or Class A ordinary shares.
- The share repurchase window will close on March 31, 2025.
- The company's board of directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size.
- Vipshop expects to fund the repurchases out of its existing cash balance.
- The company held $3.3 billion in cash and equivalents as of December 31, 2022.
- Price Action: VIPS shares are trading higher by 1.76% at $15.59 in premarket on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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