Vipshop Adopts $500M Stock Buyback Program

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.