The company announced its $500M share repurchase program in March 2022, and by 2023 year-end, the expiration date, the company had repurchased an aggregate of 11 million ADSs with approximately US$365 million in open market transactions. In addition, the company’s board of directors has authorized a new share repurchase program under which the company may repurchase up to $500M worth of its ADSs, until December 31, 2025. The company plans to fund the repurchases from its existing cash balance.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on FUTU:
- Moomoo’s Parent Company Futu Holdings Reports US$303.8 M and US$1.281 B in Revenues for Q4 and for Full Year 2023
- Futu Announces Fourth Quarter and Full Year 2023 Unaudited Financial Results
- FUTU Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Futu Holdings call volume above normal and directionally bullish
- Unusually active option classes on open March 4th
