Cloopen Plans $40M Share Buyback Plan

Cloopen Plans $40M Share Buyback Plan
  • Cloud-based communications solution provider Cloopen Group Holding Ltd's RAAS board approved a share repurchase program of up to $40 million of its Class A ordinary shares in the form of ADSs during twelve months commencing on September 28.
  • The company plans to fund the repurchases from its existing cash balance.
  • Cloopen held $416 million in cash and equivalents as of June 30.
  • Price Action: RAAS shares traded higher by 2.34% at $4.38 in the premarket session on the last check Tuesday.

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