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home / news releases / renren down 2 repurchases 288m softbank shares

RENN - Renren down 2% repurchases 288M SoftBank shares

Renren Inc. American Depositary Shares each representing fifteen Class A

2023-05-24 07:26:30 ET

  • Renren ( NYSE: RENN ) r epurchases 288M shares held by SoftBank Group Capital.
  • The stock price is down 2% during pre-market on Wednesday.
  • On May 23, 2023, Renren entered into a share repurchase agreement with SoftBank, under which the Company repurchased from SoftBank ~152.87M shares and ~135.13M Class B ordinary shares at an aggregate purchase price of $7.13M which is equivalent to $1.1144 per ADS.
  • The company used cash on hand to complete the share repurchase and retired the ordinary shares purchased.
  • Stock price drops 2% pre-market.

For further details see:

Renren down 2%, repurchases 288M SoftBank shares
Stock Information
Company Name: Renren Inc. American Depositary Shares each representing fifteen Class A
Stock Symbol: RENN
Market: NYSE
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