GEORGE TOWN, Grand Cayman, Nov. 14, 2023 (GLOBE NEWSWIRE) -- StoneCo Ltd. (NASDAQ:STNE, B3: STOC31)) ("Stone" or "the Company") announced that its Board of Directors, pursuant to written resolutions dated November 9th, 2023, has authorized a share repurchase program, under which Stone may repurchase up to R$ 1 billion in outstanding Class A common shares.
This new share repurchase program is a replacement to the previous share repurchase program announced by Stone on October 3rd, 2023. Under the former program, Stone repurchased a total of 5,733,740 shares on an average price of US$ 10.29 per share, with a total amount of US$ 59.0 million.
The new repurchase program will be effective with timing of the full amount to ...