Vasta Platform Stock Gains As Q2 Revenue Surge 17%, Plan For 1M Share Buyback

by Shivani Kumaresan, Benzinga Staff Writer

August 13, 2021 9:24 AM | 1 min read |

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.