MINISO Adopts $100M Stock Buyback Plan

MINISO Group Holding Limited MNSO board of directors authorized and approved a new share repurchase program.
Under the program, the company is authorized to repurchase up to $100 million of its shares over a period of 12 months starting September 29, 2022.
The company expects to fund the repurchase from surplus cash on its balance sheet.
The company held $870.1 million in cash and equivalents as of June 30, 2022.
Price Action: MNSO shares are trading lower by 4.52% at $4.65 on the last check Thursday.