- Education company Vasta Platform Ltd’s VSTA board of directors has approved its first share repurchase program.
- Vasta plans to repurchase up to 1 million in Class A common shares beginning August 17, 2021, continuing until the earlier completion or February 17, 2022.
- Vasta expects to utilize its existing funds to fund the repurchases.
- The company held R$416.2 million in cash and equivalents as of June 30, 2021.
- Vasta Platform reported second-quarter FY21 net revenue growth of 17% to R$141.14 million. Adjusted EBITDA loss widened to R$(17.2) million, and adjusted net loss increased to R$(25.18) million.
- Price Action: VSTA shares traded higher by 15% at $7.20 in premarket on the last check Friday.
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