QFIN - Qifu Technology launches $150M share repurchase program

2023-06-20 07:17:56 ET

• Qifu Technology ( NASDAQ: QFIN ) notifies that its board has approved a share repurchase plan, under which the company may repurchase up to $150 million worth of its American depositary shares or Class A ordinary shares over the next 12 months starting from June 20, 2023.
• Mr. Haisheng Wu, Chief Executive Officer and Director of Qifu Technology, said, “the Company’s new share repurchase program demonstrates our confidence in our business outlook and reflects our commitment to maximizing long-term shareholder value.”
• The share repurchase amount of $150M represents ~6% of market cap of $2.6B as on June 16, 2023.
• Shares of QFIN are marginally down 0.3% in premarket trade on Tuesday.

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