Qifu Technology provided updates on its share repurchase plans. On June 20, 2023, the Company announced a share repurchase plan whereby the Company is authorized to repurchase its American depositary shares, or ADSs, or Class A ordinary shares with an aggregate value of up to $150M during the 12-month period from June 20, 2023. As of March 28, 2024, the Company had utilized substantially all of the total authorized value for the 2023 Share Repurchase Plan—-the Company had in aggregate purchased 9,348,543 ADSs in the open market for a total amount of $149,979,804 at an average price of $16.02 per ADS pursuant to the plan. The Company intends to cancel all of the repurchased shares in accordance with applicable rules and regulations.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on QFIN:
- Qifu Technology Provides Updates on Share Repurchase Plans
- Largest borrow rate increases among liquid names
- Qifu Technology price target raised to $23.80 from $23.54 at Citi
- Qifu Technology Announces Fourth Quarter and Full Year 2023 Unaudited Financial Results, Declares Semi-Annual Dividend and Announces a New Share Repurchase Plan
- Qifu Technology to Announce Fourth Quarter and Full Year 2023 Unaudited Financial Results on March 12, 2024
