- Opera ( NASDAQ: OPRA ) on Friday signed agreement to repurchase up to $128.6M in cash from its majority shareholder- 360 Security Technology.
- 360 currently holds a 20.6% stake in Opera. The purchase price is equal to $5.50 per ADS, as 360 holds 46.75M ordinary shares of Opera, equivalent to 23.375M ADSs.
- Transaction is expected to close within 10 days from 360's shareholders meeting scheduled for Oct. 10, 2022.
- The company told 360's representative on its Board will resign upon the closing of the transaction.
- Earlier: Opera rises as company raises full-year revenue forecast
For further details see:
Opera to buyback $128.6M from majority shareholder