TAL Education extends share repurchase program

Extension of share repurchase program by the company TAL‘s board of directors has authorized to extend the company’s share repurchase program initially launched in April 2021 by another 12 months. The company has repurchased its American depositary shares, every three representing one Class A common share, at an aggregate consideration of approximately $233.6M under the share repurchase program between April 1, 2023 and April 25. Pursuant to the extended share repurchase program, the company may repurchase up to approximately $503.8M of its common shares through April 30, 2025. The share repurchases may be effected from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and will be implemented in accordance with applicable rules and regulations. The company expects to fund the repurchases out of its existing cash balance.