Opera Shares Gain On Launch Of $50M Stock Buyback Program

Opera Ltd's OPRA board authorized the management to execute a share repurchase program of up to $50 million of ADSs, each representing two ordinary shares, by March 31, 2024.
Oslo, Norway-based Opera provides browser and integrated AI-driven digital content discovery and recommendation platforms.
Yahui Zhou, the Company's CEO, stated: "We believe that the share price and market value of Opera are currently significantly undervalued in light of our solid trajectory and outlook. In addition, Opera holds three minority investments in private companies that represent additional unrealized value to our shareholders."
Opera held $193.2 million in cash and equivalents as of September 30.
Price Action: OPRA shares traded higher by 8.52% at $6.88 on the last check Thursday.